Montchanin Asset Management LLC Buys New Shares in Powell Industries, Inc. $POWL

Montchanin Asset Management LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,085 shares of the industrial products company’s stock, valued at approximately $1,669,000. Powell Industries comprises 1.7% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 18th largest holding.

Other large investors also recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of Powell Industries by 1.1% during the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares during the period. CWM LLC increased its holdings in shares of Powell Industries by 2.0% during the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after buying an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC raised its position 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 worth $219,000 after buying an additional 25 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock worth $440,000 after buying an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC boosted its holdings in 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 acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling

In other Powell Industries news, Director Richard E. Williams sold 5,250 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total value of $1,570,747.50. Following the completion of the transaction, the director owned 39,630 shares in the company, valued at $11,856,899.70. This represents a 11.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of 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 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 three months, insiders have sold 55,088 shares of company stock valued at $16,070,066. 2.20% of the stock is owned by insiders.

Powell Industries Trading Down 0.4%

NASDAQ:POWL opened at $208.46 on Friday. The firm’s fifty day simple moving average is $263.99 and its 200 day simple moving average is $223.42. Powell Industries, Inc. has a twelve month low of $69.00 and a twelve month high of $328.00. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.73 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The company had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the prior year, the company posted $3.81 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 7.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on POWL shares. JPMorgan Chase & Co. boosted their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Cantor Fitzgerald lifted their price objective on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Powell Industries currently has an average rating of “Buy” and a consensus target price of $236.67.

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.