Lisanti Capital Growth LLC Takes Position in Powell Industries, Inc. $POWL

Lisanti Capital Growth LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,735 shares of the industrial products company’s stock, valued at approximately $3,647,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its holdings in Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after acquiring an additional 18 shares during the period. CWM LLC increased its holdings in shares of Powell Industries by 2.0% in the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after purchasing an additional 24 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Powell Industries by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 25 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Powell Industries by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC lifted its stake in shares of Powell Industries by 1.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock valued at $609,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

POWL has been the topic of several recent analyst reports. Cantor Fitzgerald lowered their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Glj Research upgraded shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings lowered Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, 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 report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $215.42.

Insider Activity

In related news, CEO Brett Alan Cope sold 4,440 shares of the company’s 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 transaction, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction 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 position. 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 sold a total of 42,898 shares of company stock valued at $12,353,653 over the last 90 days. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

Powell Industries stock opened at $198.21 on Thursday. Powell Industries, Inc. has a fifty-two week low of $78.50 and a fifty-two week high of $328.00. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.71 and a beta of 1.18. The stock has a fifty day moving average of $243.36 and a two-hundred day moving average of $230.31.

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

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. The ex-dividend date 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 6.91%.

Powell Industries Company 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.