Illumine Investment Management LLC Sells 3,929 Shares of Powell Industries, Inc. $POWL

Illumine Investment Management LLC trimmed its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 59.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,667 shares of the industrial products company’s stock after selling 3,929 shares during the quarter. Illumine Investment Management LLC’s holdings in Powell Industries were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors bought a new position in shares of Powell Industries during the 4th quarter worth about $20,704,000. Hudson Bay Capital Management LP acquired a new stake in Powell Industries during the third quarter worth about $3,098,000. Voss Capital LP increased its stake in Powell Industries by 59.6% during the third quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock valued at $89,919,000 after acquiring an additional 110,140 shares during the period. Rock Creek Group LP increased its stake in Powell Industries by 1,900.0% during the fourth quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock valued at $47,817,000 after acquiring an additional 142,500 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Powell Industries in the 4th quarter valued at approximately $2,137,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on POWL shares. Weiss Ratings raised Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Cantor Fitzgerald raised their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Powell Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.67.

Powell Industries Price Performance

Shares of POWL opened at $225.66 on Tuesday. The company has a market capitalization of $8.22 billion, a P/E ratio of 44.16, a PEG ratio of 3.03 and a beta of 1.13. Powell Industries, Inc. has a one year low of $68.33 and a one year high of $328.00. The business’s 50 day simple moving average is $282.76 and its 200-day simple moving average is $213.21.

Powell Industries (NASDAQ:POWL) last released its quarterly 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). The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.81 earnings per share. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries’s dividend payout ratio is 7.05%.

Insider Activity

In other news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,570,747.50. Following the completion of the sale, the director directly owned 39,630 shares of the company’s stock, valued at approximately $11,856,899.70. This represents a 11.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 55,088 shares of company stock worth $16,070,066. 2.20% of the stock is currently owned by insiders.

Powell Industries 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.