Powell Industries, Inc. $POWL Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 17.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 96,315 shares of the industrial products company’s stock after acquiring an additional 14,210 shares during the period. Envestnet Asset Management Inc. owned approximately 0.80% of Powell Industries worth $29,358,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Voss Capital LP purchased a new position in shares of Powell Industries in the second quarter valued at $38,904,000. First Trust Advisors LP lifted its holdings in Powell Industries by 31.7% in the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock worth $78,080,000 after buying an additional 89,407 shares in the last quarter. Ophir Asset Management Pty Ltd boosted its position in 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 buying an additional 77,031 shares during the last quarter. Invesco Ltd. grew its stake in shares of Powell Industries by 23.2% during the second quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock valued at $71,555,000 after acquiring an additional 64,029 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Powell Industries during the second quarter worth about $10,171,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Ping Ni sold 70 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $590.00, for a total transaction of $41,300.00. Following the completion of the transaction, the insider owned 2,023 shares in the company, valued at $1,193,570. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Treasurer David L. Eckenrode sold 295 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total value of $168,150.00. Following the completion of the sale, the treasurer directly owned 443 shares in the company, valued at $252,510. This represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,365 shares of company stock valued at $1,204,640. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

POWL has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Cantor Fitzgerald upped their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $415.50.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $592.90 on Friday. The company’s fifty day moving average is $401.44 and its two-hundred day moving average is $336.47. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $612.50. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.69 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The business had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. During the same quarter in the prior year, the firm earned $2.86 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is currently 6.95%.

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.