Lisanti Capital Growth LLC Purchases Shares of 12,735 Powell Industries, Inc. $POWL

Lisanti Capital Growth LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 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 made changes to their positions in POWL. Greenline Wealth Management LLC purchased a new position in Powell Industries in the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Powell Industries by 183.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. State of Wyoming acquired a new stake in shares of Powell Industries in the 2nd quarter valued at $33,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Powell Industries during the 2nd quarter worth $34,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the transaction, the insider owned 564,736 shares in the company, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 42,898 shares of company stock valued at $12,353,653 over the last three months. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

Shares of POWL 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 firm has a 50-day simple moving average of $243.36 and a 200-day simple moving average of $230.31. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 2.71 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results 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). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The company had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same quarter last year, the firm earned $3.96 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Powell Industries’s dividend payout ratio is 6.91%.

Analyst Ratings Changes

POWL has been the topic of several recent analyst reports. Cantor Fitzgerald dropped their target price on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. JPMorgan Chase & Co. lifted 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. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $215.42.

Powell Industries 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.