Polen Capital Management LLC Sells 3,016 Shares of Powell Industries, Inc. $POWL

Polen Capital Management LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 20,341 shares of the industrial products company’s stock after selling 3,016 shares during the quarter. Polen Capital Management LLC’s holdings in Powell Industries were worth $6,484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Avanza Fonder AB acquired a new position in Powell Industries in the 4th quarter valued at approximately $30,000. State of Wyoming bought a new stake in shares of Powell Industries in the second quarter worth $33,000. First Horizon Corp acquired a new stake in Powell Industries in the fourth quarter valued at $40,000. Larson Financial Group LLC raised its position in Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Powell Industries by 74.0% during the 4th quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock worth $43,000 after buying an additional 57 shares during the period. 89.77% of the stock is owned by institutional investors.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $167.41, for a total value of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 9,000 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the transaction, the executive vice president owned 83,400 shares in the company, valued at $14,678,400. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 174,964 shares of company stock worth $31,339,200 over the last ninety days. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $290.50 on Friday. Powell Industries, Inc. has a one year low of $56.70 and a one year high of $328.00. The stock’s 50-day moving average is $264.10 and its 200 day moving average is $188.10. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 3.43 and a beta of 1.11.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same quarter in the previous year, the firm posted $3.81 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on POWL. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Cantor Fitzgerald lifted their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Powell Industries presently has an average rating of “Moderate Buy” and a consensus target price of $236.67.

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.