Federated Hermes Inc. Has $54.57 Million Stock Holdings in Powell Industries, Inc. $POWL

Federated Hermes Inc. raised its position in Powell Industries, Inc. (NASDAQ:POWL) by 17.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 179,019 shares of the industrial products company’s stock after buying an additional 26,901 shares during the period. Federated Hermes Inc. owned about 1.48% of Powell Industries worth $54,567,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Voss Capital LP bought a new position in Powell Industries in the second quarter valued at about $38,904,000. First Trust Advisors LP lifted its position in Powell Industries by 31.7% during the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after purchasing an additional 89,407 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in shares of Powell Industries by 71.3% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 185,127 shares of the industrial products company’s stock valued at $42,696,000 after purchasing an additional 77,031 shares during the last quarter. Invesco Ltd. grew its position in shares of Powell Industries by 23.2% during the 2nd quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock worth $71,555,000 after buying an additional 64,029 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $10,171,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

POWL has been the topic of several analyst reports. Cantor Fitzgerald began coverage on shares of Powell Industries in a report on Friday, January 23rd. They issued a “neutral” rating and a $427.00 price objective on the stock. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $388.50.

Powell Industries Stock Up 3.0%

POWL opened at $456.93 on Friday. The stock has a market cap of $5.55 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.05 and a beta of 0.86. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $462.21. The company has a fifty day simple moving average of $358.62 and a 200 day simple moving average of $315.39.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share 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 analysts’ expectations of $292.85 million. During the same quarter in the previous year, the business posted $3.77 EPS. Powell Industries’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were paid a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.2%. 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 company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company 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.