Rockefeller Capital Management L.P. Has $36.32 Million Stock Holdings in Powell Industries, Inc. $POWL

Rockefeller Capital Management L.P. trimmed its position in Powell Industries, Inc. (NASDAQ:POWL) by 8.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 113,939 shares of the industrial products company’s stock after selling 10,629 shares during the period. Rockefeller Capital Management L.P.’s holdings in Powell Industries were worth $36,322,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in POWL. Corient Private Wealth LLC bought a new stake in shares of Powell Industries during the fourth quarter worth approximately $230,000. Pacer Advisors Inc. bought a new position in Powell Industries in the fourth quarter valued at approximately $468,000. Vision One Management Partners LP grew its holdings in Powell Industries by 160.5% during the 4th quarter. Vision One Management Partners LP now owns 61,448 shares of the industrial products company’s stock worth $19,588,000 after acquiring an additional 37,857 shares during the period. Galaxy Group Investments LLC bought a new stake in shares of Powell Industries during the 4th quarter valued at $1,532,000. Finally, NewEdge Advisors LLC raised its position in shares of Powell Industries by 52.6% during the 4th quarter. NewEdge Advisors LLC now owns 9,120 shares of the industrial products company’s stock valued at $2,907,000 after acquiring an additional 3,145 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In other Powell Industries news, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total value of $1,570,747.50. Following the transaction, the director owned 39,630 shares of the company’s stock, valued at approximately $11,856,899.70. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the sale, the executive vice president directly owned 83,400 shares of the company’s stock, valued at $14,678,400. This represents a 9.74% 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. In the last three months, insiders sold 25,630 shares of company stock worth $6,339,195. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on POWL shares. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Cantor Fitzgerald upped their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One 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’s stock. Based on data from MarketBeat, Powell Industries has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Powell Industries Stock Performance

POWL stock opened at $297.20 on Monday. Powell Industries, Inc. has a 1-year low of $56.70 and a 1-year high of $328.00. The firm has a market cap of $10.83 billion, a PE ratio of 58.16, a P/E/G ratio of 3.88 and a beta of 1.11. The business’s 50-day moving average price is $276.56 and its two-hundred day moving average price is $196.17.

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

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

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.