Rock Creek Group LP Invests $2.29 Million in Powell Industries, Inc. $POWL

Rock Creek Group LP acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, HoldingsChannel reports. The fund acquired 7,500 shares of the industrial products company’s stock, valued at approximately $2,286,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC increased its holdings in Powell Industries by 2.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 29 shares during the period. State of Wyoming grew its position in shares of Powell Industries by 18.5% in the 3rd quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock valued at $57,000 after buying an additional 29 shares during the last quarter. Arizona State Retirement System grew its position in shares of Powell Industries by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company’s stock valued at $868,000 after buying an additional 30 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Powell Industries by 3.6% in the second quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock valued at $257,000 after buying an additional 42 shares during the period. Finally, Amalgamated Bank raised its position in shares of Powell Industries by 1.8% during the third quarter. Amalgamated Bank now owns 2,724 shares of the industrial products company’s stock worth $830,000 after acquiring an additional 49 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research note on Wednesday, November 19th. Cantor Fitzgerald raised their price target on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Insider Activity at Powell Industries

In related news, insider Ping Ni sold 70 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $590.00, for a total value of $41,300.00. Following the completion of the sale, the insider directly owned 2,023 shares of the company’s stock, valued at $1,193,570. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 318 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total value of $178,197.66. Following the transaction, the insider directly owned 650,472 shares in the company, valued at approximately $364,504,994.64. This trade represents a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

Shares of POWL opened at $530.88 on Friday. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $612.50. The business’s 50 day moving average price is $444.34 and its two-hundred day moving average price is $358.68. The firm has a market cap of $6.44 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.50 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.85 by $0.55. The company had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.86 EPS. Research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s payout ratio is presently 7.02%.

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.