Inceptionr LLC Acquires Shares of 1,365 Powell Industries, Inc. $POWL

Inceptionr LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,365 shares of the industrial products company’s stock, valued at approximately $416,000.

Several other institutional investors have also recently made changes to their positions in POWL. Kovitz Investment Group Partners LLC boosted its position in shares of Powell Industries by 42.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after purchasing an additional 686,588 shares in the last quarter. First Trust Advisors LP grew its stake in Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after purchasing an additional 244,051 shares during the period. Voss Capital LP bought a new position in Powell Industries in the second quarter worth $38,904,000. Fisher Asset Management LLC lifted its position in Powell Industries by 49.8% during the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock valued at $91,594,000 after buying an additional 99,857 shares during the period. Finally, Ophir Asset Management Pty Ltd lifted its position in Powell Industries by 71.3% during the second quarter. Ophir Asset Management Pty Ltd now owns 185,127 shares of the industrial products company’s stock valued at $42,696,000 after buying an additional 77,031 shares during the period. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 318 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total value of $178,197.66. Following the transaction, the insider directly owned 650,472 shares of the company’s stock, valued at approximately $364,504,994.64. This represents a 0.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer David L. Eckenrode sold 295 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total value of $168,150.00. Following the sale, the treasurer owned 443 shares in the company, valued at approximately $252,510. This represents a 39.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,158 shares of company stock worth $17,160,352. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 2.7%

NASDAQ POWL opened at $515.20 on Thursday. Powell Industries, Inc. has a 12 month low of $152.89 and a 12 month high of $612.50. The stock’s fifty day moving average price is $476.90 and its 200-day moving average price is $375.55. The stock has a market cap of $6.25 billion, a P/E ratio of 33.48, a P/E/G ratio of 2.37 and a beta of 0.82.

Powell Industries shares are scheduled to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating the consensus estimate of $2.85 by $0.55. The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. Powell Industries’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.86 EPS. As a group, analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is currently 7.02%.

Analysts Set New Price Targets

A number of analysts have recently commented on POWL shares. Roth Mkm restated a “buy” rating and set a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Cantor Fitzgerald lifted their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Finally, Glj Research initiated coverage on shares of Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $450.00 target price for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $427.00.

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.