Cibc World Market Inc. Makes New $7.75 Million Investment in Powell Industries, Inc. $POWL

Cibc World Market Inc. acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,082 shares of the industrial products company’s stock, valued at approximately $7,755,000. Cibc World Market Inc. owned approximately 0.07% of Powell Industries at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of POWL. Greenline Wealth Management LLC bought a new stake in Powell Industries in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB raised its stake 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 buying an additional 68 shares in the last quarter. Allworth Financial LP bought a new position in shares of Powell Industries during the 2nd quarter worth about $33,000. State of Wyoming bought a new position in shares of Powell Industries during the 2nd quarter worth about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Powell Industries during the 2nd quarter valued at about $34,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Up 0.6%

Shares of NASDAQ POWL opened at $190.19 on Wednesday. Powell Industries, Inc. has a 12-month low of $83.85 and a 12-month high of $328.00. The firm’s 50-day simple moving average is $235.21 and its 200 day simple moving average is $231.39. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 earnings per share. On average, equities analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.

Powell Industries Dividend Announcement

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 issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries’s dividend payout ratio is currently 6.91%.

Insider Buying and Selling at Powell Industries

In other Powell Industries 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 value of $1,280,880.00. Following the transaction, the executive vice president directly owned 78,900 shares in the company, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. The trade was 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. In the last ninety days, insiders have sold 42,898 shares of company stock worth $12,353,653. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

POWL has been the topic of a number of analyst reports. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald cut their price target on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. JPMorgan Chase & Co. lifted their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Powell Industries currently has a consensus rating of “Moderate Buy” and an average target price of $215.42.

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.