Danske Bank A S Invests $13.56 Million in Powell Industries, Inc. $POWL

Danske Bank A S purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 47,349 shares of the industrial products company’s stock, valued at approximately $13,559,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Powell Industries by 1.5% in the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 461 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Powell Industries by 1,221.0% during the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Powell Industries by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Powell Industries by 6.2% during the second quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after buying an additional 1,822 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Glj Research upgraded shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Cantor Fitzgerald decreased their price objective on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.42.

Insider Buying and Selling

In related news, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares in the company, valued at approximately $22,458,096. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,898 shares of company stock valued at $12,353,653. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 0.4%

NASDAQ POWL opened at $197.40 on Friday. Powell Industries, Inc. has a 12 month low of $81.27 and a 12 month high of $328.00. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.64 and a beta of 1.18. The company’s 50 day moving average is $241.49 and its two-hundred day moving average is $230.66.

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

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s payout ratio is 6.91%.

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.