Aurora Investment Counsel Decreases Holdings in Powell Industries, Inc. $POWL

Aurora Investment Counsel reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 37.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,578 shares of the industrial products company’s stock after selling 4,522 shares during the quarter. Powell Industries makes up 1.2% of Aurora Investment Counsel’s investment portfolio, making the stock its 29th biggest holding. Aurora Investment Counsel owned about 0.06% of Powell Industries worth $2,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Powell Industries in the second quarter valued at approximately $33,000. State of Wyoming acquired a new stake in Powell Industries during the second quarter worth approximately $33,000. Manchester Capital Management LLC lifted its position in shares of Powell Industries by 42.9% during the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after buying an additional 60 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Powell Industries in the 2nd quarter valued at $46,000. Finally, Optimum Investment Advisors boosted its holdings in shares of Powell Industries by 114.3% in the 2nd quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock valued at $63,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

POWL has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Cantor Fitzgerald boosted their target price on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $415.50.

Insider Activity

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the sale, the vice president owned 4,451 shares in the company, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 14,911 shares of Powell Industries stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $600.92, for a total transaction 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. The trade was a 2.24% 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 worth $16,331,445 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Up 2.0%

Shares of POWL stock opened at $546.82 on Friday. The stock’s 50-day moving average price is $426.81 and its 200 day moving average price is $350.86. The stock has a market capitalization of $6.64 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week 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 for the quarter, beating the consensus estimate of $2.85 by $0.55. The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $2.86 EPS. Analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 annualized dividend and a yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is presently 7.02%.

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.