Montchanin Asset Management LLC Makes New Investment in Powell Industries, Inc. $POWL

Montchanin Asset Management LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the first quarter, HoldingsChannel reports. The institutional investor acquired 3,085 shares of the industrial products company’s stock, valued at approximately $1,669,000. Powell Industries makes up about 1.7% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 18th largest position.

Several other large investors also recently modified their holdings of POWL. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries during the fourth quarter worth about $29,000. State of Wyoming purchased a new position in Powell Industries in the second quarter valued at about $33,000. Steward Partners Investment Advisory LLC boosted its holdings in Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 63 shares during the last quarter. First Horizon Corp purchased a new position in Powell Industries in the fourth quarter valued at about $40,000. Finally, Larson Financial Group LLC grew its stake 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 valued at $41,000 after purchasing an additional 128 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

POWL has been the topic of several analyst reports. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings cut Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised 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. Cantor Fitzgerald lifted their price target 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. Finally, Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Powell Industries has an average rating of “Buy” and an average target price of $236.67.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer owned 517,233 shares in the company, valued at $124,937,631.15. The trade was 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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the sale, the vice president directly owned 10,853 shares in the company, valued at $3,513,007.57. This trade represents a 18.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,088 shares of company stock worth $16,070,066. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ:POWL opened at $208.46 on Friday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 2.73 and a beta of 1.13. Powell Industries, Inc. has a one year low of $69.00 and a one year high of $328.00. The stock has a 50-day simple moving average of $263.99 and a 200 day simple moving average of $223.42.

Powell Industries (NASDAQ:POWL) last announced 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 firm had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same period in the prior year, the firm earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

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.