Powell Industries, Inc. $POWL Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 26.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,505 shares of the industrial products company’s stock after selling 14,313 shares during the period. Cerity Partners LLC owned 0.34% of Powell Industries worth $12,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new stake in Powell Industries during the second quarter worth about $33,000. State of Wyoming purchased a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $33,000. 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 buying an additional 60 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $46,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Powell Industries during the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $365.49 on Friday. The firm has a market capitalization of $4.44 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.86. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00. The firm’s 50-day moving average is $338.30 and its two-hundred day moving average is $295.59.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.46. The business 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%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $3.77 earnings per share. Analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were given a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio is 7.21%.

Analyst Ratings Changes

Several brokerages recently weighed in on POWL. Roth Capital reiterated a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Finally, Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $350.00.

Insider Transactions at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value 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 represents a 40.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

About Powell Industries

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.