Loomis Sayles & Co. L P Grows Position in Powell Industries, Inc. $POWL

Loomis Sayles & Co. L P grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 3.4% in the second quarter, HoldingsChannel.com reports. The fund owned 50,404 shares of the industrial products company’s stock after purchasing an additional 1,672 shares during the period. Loomis Sayles & Co. L P’s holdings in Powell Industries were worth $10,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brooklyn Investment Group raised its stake in Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Powell Industries in the 2nd quarter worth approximately $33,000. Harbour Investments Inc. increased its holdings in shares of Powell Industries by 1,970.0% in the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock worth $35,000 after buying an additional 197 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Powell Industries by 42.9% during the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after buying an additional 60 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Powell Industries during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the transaction, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 1.1%

Shares of NASDAQ:POWL opened at $319.58 on Tuesday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The stock’s 50-day moving average price is $332.07 and its 200-day moving average price is $263.92. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $413.00.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. The company had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.Powell Industries’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.77 EPS. As a group, research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s dividend payout ratio is 7.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on POWL. Roth Capital reiterated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $331.00.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.