OMERS ADMINISTRATION Corp Makes New $2.88 Million Investment in Powell Industries, Inc. $POWL

OMERS ADMINISTRATION Corp bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, Holdings Channel reports. The institutional investor bought 10,065 shares of the industrial products company’s stock, valued at approximately $2,882,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Powell Industries during the 2nd quarter valued at about $1,033,376,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 valued at $247,106,000 after acquiring an additional 775,097 shares during the period. Vanguard Group Inc. boosted its stake in Powell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after acquiring an additional 6,419 shares during the period. State Street Corp boosted its stake in Powell Industries by 0.9% in the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after acquiring an additional 3,159 shares during the period. Finally, Voss Capital LP grew its holdings in shares of Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Trading 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 company has a market cap of $6.93 billion, a PE ratio of 36.50, a P/E/G ratio of 2.52 and a beta of 1.18. The stock has a 50 day simple moving average of $235.21 and a 200-day simple moving average of $231.39.

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

Powell Industries Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on POWL. Cantor Fitzgerald dropped their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Powell Industries has a consensus rating of “Moderate Buy” and a consensus price target of $215.42.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction dated 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. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 42,898 shares of company stock valued at $12,353,653. Company insiders own 2.20% of the company’s stock.

About Powell Industries

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.