9,572 Shares in Powell Industries, Inc. $POWL Purchased by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,572 shares of the industrial products company’s stock, valued at approximately $2,741,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virtus Advisers LLC purchased a new stake in Powell Industries during the 2nd quarter valued at approximately $2,508,000. LaSalle St. Investment Advisors LLC purchased a new position in shares of Powell Industries in the second quarter worth $336,000. Vise Technologies Inc. purchased a new position in shares of Powell Industries in the second quarter worth $843,000. Abacus FCF Advisors LLC bought a new position in shares of Powell Industries during the second quarter worth $7,456,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Powell Industries during the second quarter worth $3,647,000. 89.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

POWL has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald dropped their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.42.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares in the company, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,898 shares of company stock valued at $12,353,653 over the last ninety days. 2.20% of the stock is owned by insiders.

Powell Industries Stock Down 0.4%

POWL stock opened at $197.40 on Friday. Powell Industries, Inc. has a 52 week low of $81.27 and a 52 week high of $328.00. The company has a fifty day simple moving average of $241.49 and a two-hundred day simple moving average of $230.66. The firm has a market capitalization of $7.19 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The business had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.96 earnings per share. As a group, analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is currently 6.91%.

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.