Maryland State Retirement & Pension System Sells 1,382 Shares of Powell Industries, Inc. $POWL

Maryland State Retirement & Pension System cut its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 50.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,353 shares of the industrial products company’s stock after selling 1,382 shares during the period. Maryland State Retirement & Pension System’s holdings in Powell Industries were worth $412,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in POWL. Advisors Asset Management Inc. increased its holdings 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 buying an additional 42 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake 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 worth $322,000 after purchasing an additional 50 shares during the period. Choreo LLC lifted its position in Powell Industries by 4.4% in the second quarter. Choreo LLC now owns 1,340 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 56 shares during the last quarter. Manchester Capital Management LLC boosted its stake 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. Finally, Roman Butler Fullerton & Co. grew its holdings in shares of Powell Industries by 1.7% in the second 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 last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

POWL has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Cantor Fitzgerald assumed coverage on Powell Industries in a research note on Friday. They issued a “neutral” rating and a $427.00 target price on the stock. Finally, Roth Mkm restated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Powell Industries currently has an average rating of “Moderate Buy” and an average target price of $388.50.

Powell Industries Price Performance

Shares of POWL opened at $417.95 on Friday. The company has a 50-day simple moving average of $347.68 and a two-hundred day simple moving average of $309.06. The firm has a market capitalization of $5.07 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $446.11.

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

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

Insider Activity at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the sale, the vice president owned 4,451 shares in the company, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Powell Industries 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.