Powell Industries, Inc. $POWL Shares Acquired by Bosun Asset Management LLC

Bosun Asset Management LLC raised its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,930 shares of the industrial products company’s stock after buying an additional 3,361 shares during the quarter. Powell Industries accounts for 1.3% of Bosun Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Bosun Asset Management LLC owned about 0.17% of Powell Industries worth $4,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. Avantax Advisory Services Inc. increased its stake in shares of Powell Industries by 35.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,709 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 446 shares in the last quarter. Cetera Investment Advisers grew its holdings in Powell Industries by 177.5% in the first quarter. Cetera Investment Advisers now owns 4,937 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 3,158 shares during the period. Harbour Investments Inc. increased its stake in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 197 shares in the last quarter. US Bancorp DE raised its holdings in shares of Powell Industries by 4.8% during the first quarter. US Bancorp DE now owns 2,775 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 126 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Powell Industries by 1.4% during the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company’s stock valued at $118,871,000 after purchasing an additional 9,829 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Insider Activity at Powell Industries

In other news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the sale, the executive vice president owned 25,700 shares in the company, valued at $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Stock Performance

POWL stock opened at $342.13 on Friday. The business has a 50-day simple moving average of $335.36 and a two-hundred day simple moving average of $267.51. The company has a market capitalization of $4.14 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $413.00.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The company had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same quarter last year, the company earned $3.77 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio is presently 7.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on POWL. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Powell Industries in a research note on Monday, December 1st. Finally, Roth Capital restated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $331.00.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.