Powell Industries, Inc. $POWL Stake Raised by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 23.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,118 shares of the industrial products company’s stock after buying an additional 28,769 shares during the period. Federated Hermes Inc. owned approximately 1.26% of Powell Industries worth $32,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Powell Industries by 3.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 42 shares in the last quarter. Choreo LLC grew its stake in shares of Powell Industries by 4.4% in the second quarter. Choreo LLC now owns 1,340 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 56 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Powell Industries by 42.9% during the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 60 shares during the period. Roman Butler Fullerton & Co. raised its stake in shares of Powell Industries by 1.7% during the second quarter. Roman Butler Fullerton & Co. now owns 3,663 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 62 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Powell Industries by 1.3% in the second quarter. Cetera Investment Advisers now owns 5,000 shares of the industrial products company’s stock worth $1,052,000 after purchasing an additional 63 shares during the period. 89.77% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction that occurred on 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 approximately $7,677,618. This represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Up 0.6%

Shares of Powell Industries stock opened at $345.06 on Wednesday. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $413.00. The firm has a market capitalization of $4.17 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The stock’s fifty day moving average is $336.96 and its 200-day moving average is $270.56.

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

Powell Industries Dividend Announcement

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 given a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s dividend payout ratio (DPR) is 7.21%.

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of recent analyst reports. Roth Capital restated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Powell Industries in a report on Monday. Finally, Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.