Polen Capital Management LLC Has $6.48 Million Position in Powell Industries, Inc. $POWL

Polen Capital Management LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 12.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,341 shares of the industrial products company’s stock after selling 3,016 shares during the quarter. Polen Capital Management LLC owned about 0.17% of Powell Industries worth $6,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Avanza Fonder AB bought a new position in Powell Industries in the 4th quarter valued at about $30,000. State of Wyoming acquired a new position in shares of Powell Industries in the second quarter valued at approximately $33,000. First Horizon Corp bought a new position in shares of Powell Industries during the fourth quarter worth approximately $40,000. Larson Financial Group LLC lifted its holdings in Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Powell Industries by 74.0% during the 4th quarter. Huntington National Bank now owns 134 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.67.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $290.50 on Friday. Powell Industries, Inc. has a 52 week low of $56.70 and a 52 week high of $328.00. The stock has a market capitalization of $10.58 billion, a P/E ratio of 56.85, a PEG ratio of 3.43 and a beta of 1.11. The stock’s fifty day moving average is $264.10 and its 200 day moving average is $188.10.

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

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is currently 7.05%.

Insider Buying and Selling

In other news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40. Following the completion of the transaction, the chief executive officer owned 164,851 shares of the company’s stock, valued at approximately $38,568,539.96. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the sale, the insider directly owned 1,796,082 shares in the company, valued at $300,682,087.62. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 174,964 shares of company stock worth $31,339,200. 2.20% of the stock is owned by company insiders.

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.