Powell Industries, Inc. $POWL Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,520 shares of the industrial products company’s stock after purchasing an additional 30,013 shares during the quarter. GW&K Investment Management LLC owned about 2.10% of Powell Industries worth $81,137,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in POWL. Avanza Fonder AB acquired a new position in shares of Powell Industries in the 4th quarter valued at $30,000. State of Wyoming purchased a new position in shares of Powell Industries in the 2nd quarter valued at $33,000. First Horizon Corp purchased a new position in shares of Powell Industries in the 4th quarter valued at $40,000. Larson Financial Group LLC raised its stake in shares of Powell Industries by 12,800.0% in the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 128 shares during the period. Finally, Huntington National Bank raised its stake in shares of Powell Industries by 74.0% in the 4th quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity

In related news, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the sale, the director owned 39,630 shares of the company’s stock, valued at $11,856,899.70. The trade was a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the sale, the insider directly owned 1,796,082 shares in the company, valued at $300,682,087.62. This trade represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,404 shares of company stock worth $32,086,304 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on POWL shares. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. raised their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.67.

Powell Industries Price Performance

Powell Industries stock opened at $283.51 on Wednesday. Powell Industries, Inc. has a 12-month low of $56.70 and a 12-month high of $328.00. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 55.48, a price-to-earnings-growth ratio of 3.83 and a beta of 1.11. The firm’s fifty day moving average price is $260.00 and its 200 day moving average price is $185.56.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. During the same period last year, the firm earned $3.81 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries’s payout ratio is 7.05%.

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.