Carnegie Investment Counsel Acquires 14,200 Shares of Powell Industries, Inc. $POWL

Carnegie Investment Counsel raised its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 53.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,748 shares of the industrial products company’s stock after buying an additional 14,200 shares during the quarter. Carnegie Investment Counsel owned 0.34% of Powell Industries worth $12,420,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of POWL. Advisors Asset Management Inc. grew its stake in shares of Powell Industries by 3.6% in the second quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 42 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Powell Industries by 5.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,056 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 50 shares during the period. Choreo LLC grew its position in Powell Industries by 4.4% in the 2nd quarter. Choreo LLC now owns 1,340 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 56 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Powell Industries by 42.9% during the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 60 shares during the period. Finally, Roman Butler Fullerton & Co. increased its holdings in shares of Powell Industries by 1.7% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 3,663 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 62 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $350.00.

Powell Industries Trading Up 1.4%

POWL stock opened at $340.86 on Friday. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $413.00. The business’s 50 day moving average is $342.48 and its 200-day moving average is $283.69. The firm has a market cap of $4.12 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.57 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The business had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the previous year, the firm earned $3.77 EPS. Powell Industries’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts forecast 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 was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, November 19th. Powell Industries’s payout ratio is currently 7.21%.

Insider Buying and Selling at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the sale, the vice president owned 4,451 shares in the company, valued at $1,476,530.23. This trade represents a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.