Convergence Investment Partners LLC Purchases Shares of 4,419 Powell Industries, Inc. $POWL

Convergence Investment Partners LLC purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,419 shares of the industrial products company’s stock, valued at approximately $1,409,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Littlejohn Financial Services Inc. increased its stake in Powell Industries by 14.9% during the 4th quarter. Littlejohn Financial Services Inc. now owns 4,062 shares of the industrial products company’s stock valued at $1,295,000 after purchasing an additional 526 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares in the last quarter. SkyOak Wealth LLC bought a new stake in Powell Industries during the 4th quarter valued at $277,000. Independent Advisor Alliance increased its stake in Powell Industries by 12.1% during the 4th quarter. Independent Advisor Alliance now owns 1,673 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 181 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Powell Industries by 42.9% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 3,000 shares of the industrial products company’s stock valued at $956,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on POWL. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Cantor Fitzgerald boosted their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective 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. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Powell Industries currently has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Powell Industries Price Performance

POWL opened at $292.65 on Friday. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 57.27, a P/E/G ratio of 3.82 and a beta of 1.14. The firm’s fifty day moving average price is $222.53 and its two-hundred day moving average price is $165.60. Powell Industries, Inc. has a 1 year low of $54.75 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The firm had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.Powell Industries’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.81 earnings per share. As a group, equities analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s payout ratio is currently 7.05%.

Insider Activity

In related news, Director Richard E. Williams sold 5,250 shares of the stock in a transaction dated 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 transaction, the director owned 39,630 shares in the company, valued at approximately $11,856,899.70. This represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the transaction, the executive vice president owned 83,400 shares of the company’s stock, valued at approximately $14,678,400. The trade was a 9.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 183,835 shares of company stock worth $32,915,210. Company insiders own 2.20% of the company’s stock.

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.