UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Powell Industries, Inc. $POWL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 229.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,723 shares of the industrial products company’s stock after purchasing an additional 56,901 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Powell Industries were worth $23,402,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors bought a new position in shares of Powell Industries in the fourth quarter worth approximately $20,704,000. Private Advisory Group LLC purchased a new position in shares of Powell Industries during the 2nd quarter valued at $14,158,000. Voss Capital LP boosted its holdings in Powell Industries by 18.6% in the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after buying an additional 55,000 shares during the period. GW&K Investment Management LLC boosted its holdings in Powell Industries by 13.4% in the 4th quarter. GW&K Investment Management LLC now owns 254,520 shares of the industrial products company’s stock worth $81,137,000 after buying an additional 30,013 shares during the period. Finally, Rock Creek Group LP increased its stake in Powell Industries by 1,900.0% in the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after buying an additional 142,500 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 3.4%

Shares of Powell Industries stock opened at $181.17 on Friday. Powell Industries, Inc. has a twelve month low of $86.36 and a twelve month high of $328.00. The business has a 50-day moving average price of $216.71 and a 200-day moving average price of $230.49. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.33 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 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The firm had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Powell Industries’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s payout ratio is presently 6.91%.

Insider Transactions at Powell Industries

In other news, CEO Brett Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,898 shares of company stock valued at $12,353,653 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald dropped their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings lowered shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Powell Industries has a consensus rating of “Moderate Buy” and an average target price of $215.42.

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.