Illumine Investment Management LLC Has $1.44 Million Stake in Powell Industries, Inc. $POWL

Illumine Investment Management LLC trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 59.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,667 shares of the industrial products company’s stock after selling 3,929 shares during the period. Illumine Investment Management LLC’s holdings in Powell Industries were worth $1,443,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after buying an additional 775,097 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in Powell Industries during the 3rd quarter valued at about $43,515,000. Rock Creek Group LP grew its stake in Powell Industries by 1,900.0% during the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock valued at $47,817,000 after acquiring an additional 142,500 shares in the last quarter. Voss Capital LP increased its holdings in shares of Powell Industries by 59.6% in the 3rd quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock valued at $89,919,000 after purchasing an additional 110,140 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Powell Industries in the fourth quarter worth approximately $20,704,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $225.66 on Tuesday. Powell Industries, Inc. has a fifty-two week low of $68.33 and a fifty-two week high of $328.00. The business has a 50-day moving average of $282.76 and a two-hundred day moving average of $213.21. The stock has a market capitalization of $8.22 billion, a P/E ratio of 44.16, a P/E/G ratio of 3.03 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $298.12 million. During the same period in the prior year, the company posted $3.81 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is currently 7.05%.

Analyst Upgrades and Downgrades

Several research firms recently commented on POWL. JPMorgan Chase & Co. raised their price target on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Cantor Fitzgerald boosted their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Texas Capital raised Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Insider Buying and Selling

In other news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the sale, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,088 shares of company stock valued at $16,070,066. 2.20% of the stock is owned by corporate insiders.

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.