Man Group plc Makes New Investment in Powell Industries, Inc. $POWL

Man Group plc bought a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,539 shares of the industrial products company’s stock, valued at approximately $5,595,000. Man Group plc owned about 0.05% of Powell Industries as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $1,033,376,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after buying an additional 775,097 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Powell Industries in the 2nd quarter valued at $93,845,000. Bank of New York Mellon Corp acquired a new position in shares of Powell Industries during the 2nd quarter worth approximately $60,389,000. Finally, Tema ETFs LLC raised its holdings in shares of Powell Industries by 217.3% in the 2nd quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock valued at $76,943,000 after purchasing an additional 184,010 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on POWL shares. Cantor Fitzgerald reduced their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.42.

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the sale, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 42,898 shares of company stock worth $12,353,653. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 5.1%

POWL opened at $182.71 on Friday. Powell Industries, Inc. has a 12 month low of $83.85 and a 12 month high of $328.00. The business’s 50-day moving average price is $228.78 and its 200-day moving average price is $231.11. The company has a market cap of $6.66 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.43 and a beta of 1.18.

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

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s payout ratio is presently 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.