TD Waterhouse Canada Inc. Makes New Investment in Powell Industries, Inc. $POWL

TD Waterhouse Canada Inc. purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 500 shares of the industrial products company’s stock, valued at approximately $105,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in Powell Industries by 6.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 124,866 shares of the industrial products company’s stock valued at $26,278,000 after buying an additional 8,089 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Powell Industries by 1.3% during the second quarter. Cetera Investment Advisers now owns 5,000 shares of the industrial products company’s stock valued at $1,052,000 after acquiring an additional 63 shares during the period. SG Americas Securities LLC grew its position in shares of Powell Industries by 122.3% in the second quarter. SG Americas Securities LLC now owns 2,970 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 1,634 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Powell Industries by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,417 shares of the industrial products company’s stock valued at $509,000 after purchasing an additional 165 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Powell Industries by 7.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,142 shares of the industrial products company’s stock worth $451,000 after purchasing an additional 143 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Up 4.2%

Powell Industries stock opened at $312.55 on Wednesday. The business has a 50 day moving average price of $330.26 and a two-hundred day moving average price of $260.11. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $413.00. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. The business had revenue of $297.98 million for the quarter, compared to analysts’ expectations of $292.85 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.Powell Industries’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.77 earnings per share. On average, analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio is currently 7.21%.

Analysts Set New Price Targets

POWL has been the subject of several recent analyst reports. Wall Street Zen upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Powell Industries presently has a consensus rating of “Buy” and a consensus price target of $331.00.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the sale, the executive vice president owned 25,700 shares of the company’s stock, valued at $7,677,618. The trade was a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.