Hodges Capital Management Inc. Grows Stock Holdings in Powell Industries, Inc. $POWL

Hodges Capital Management Inc. grew its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,440 shares of the industrial products company’s stock after purchasing an additional 8,110 shares during the period. Powell Industries comprises about 1.5% of Hodges Capital Management Inc.’s holdings, making the stock its 18th largest holding. Hodges Capital Management Inc. owned approximately 0.47% of Powell Industries worth $17,203,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of POWL. First Trust Advisors LP lifted its position 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 during the last quarter. State Street Corp raised its stake in shares of Powell Industries by 0.9% during the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after acquiring an additional 3,159 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Powell Industries by 23.2% in the 2nd quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock worth $71,555,000 after acquiring an additional 64,029 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Powell Industries by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock valued at $50,033,000 after purchasing an additional 5,725 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd grew its holdings in shares of Powell Industries by 71.3% during 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. 89.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, Treasurer David L. Eckenrode sold 295 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the completion of the transaction, the treasurer owned 443 shares of the company’s stock, valued at approximately $252,510. This trade represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 14,911 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $600.92, for a total value of $8,960,318.12. Following the completion of the sale, the insider directly owned 652,069 shares in the company, valued at approximately $391,841,303.48. This represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,681 shares of company stock valued at $16,331,445. Insiders own 2.20% of the company’s stock.

Powell Industries Price Performance

Shares of POWL opened at $561.64 on Wednesday. The company has a 50-day simple moving average of $415.48 and a two-hundred day simple moving average of $345.16. The firm has a market capitalization of $6.82 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.66 and a beta of 0.85. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $612.50.

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

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend 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 dividend payout ratio (DPR) is 6.95%.

Analysts Set New Price Targets

POWL has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Cantor Fitzgerald boosted their target price on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Weiss Ratings restated 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 note on Saturday. Two equities research 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 has a consensus rating of “Moderate Buy” and an average price target of $415.50.

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.