NEOS Investment Management LLC Raises Stake in Powell Industries, Inc. $POWL

NEOS Investment Management LLC boosted its position in Powell Industries, Inc. (NASDAQ:POWL) by 281.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,170 shares of the industrial products company’s stock after purchasing an additional 39,238 shares during the quarter. NEOS Investment Management LLC owned about 0.44% of Powell Industries worth $16,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of POWL. Voss Capital LP purchased a new stake in shares of Powell Industries in the 2nd quarter worth about $38,904,000. First Trust Advisors LP boosted its position in shares of Powell Industries by 31.7% during the second quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after buying an additional 89,407 shares during the last quarter. Ophir Asset Management Pty Ltd lifted 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 buying an additional 77,031 shares during the period. Invesco Ltd. increased its holdings in 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 buying an additional 64,029 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in Powell Industries during the 2nd quarter worth approximately $10,171,000. 89.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 120 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $600.06, for a total transaction of $72,007.20. Following the completion of the transaction, the insider owned 651,949 shares in the company, valued at approximately $391,208,516.94. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Treasurer David L. Eckenrode sold 295 shares of the business’s stock in a transaction that occurred 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 sale, the treasurer owned 443 shares of the company’s stock, valued at approximately $252,510. The trade was a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,681 shares of company stock valued at $16,331,445 over the last quarter. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

POWL stock opened at $561.64 on Wednesday. The firm has a market cap of $6.82 billion, a PE ratio of 36.49, a PEG 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. The firm’s 50 day moving average price is $415.48 and its 200-day moving average price is $345.16.

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

Powell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders 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 boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is 6.95%.

Wall Street Analysts Forecast Growth

POWL has been the topic of several research reports. Cantor Fitzgerald lifted their target price on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Powell Industries currently has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Powell Industries Company 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.