Stephens Investment Management Group LLC Has $32.34 Million Position in Powell Industries, Inc. $POWL

Stephens Investment Management Group LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 22.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,777 shares of the industrial products company’s stock after selling 17,042 shares during the period. Stephens Investment Management Group LLC’s holdings in Powell Industries were worth $32,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC increased its position in shares of Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp raised its stake in Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Powell Industries by 6.2% during the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock worth $6,548,000 after purchasing an additional 1,822 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of 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 price target on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. 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. Finally, Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Powell Industries currently has an average rating of “Moderate Buy” and a consensus price target of $236.67.

Powell Industries Stock Performance

Powell Industries stock opened at $246.33 on Friday. Powell Industries, Inc. has a 52 week low of $68.33 and a 52 week high of $328.00. The stock has a market capitalization of $8.97 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 3.22 and a beta of 1.13. The stock has a fifty day moving average of $285.62 and a 200-day moving average of $207.27.

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

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio is 7.05%.

Insider Buying and Selling

In other news, Director Richard E. Williams sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total value of $1,570,747.50. Following the sale, the director directly owned 39,630 shares in the company, valued at approximately $11,856,899.70. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. 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 sold a total of 55,088 shares of company stock worth $16,036,366 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

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.