3,461 Shares in Powell Industries, Inc. $POWL Acquired by Galaxy Digital Capital Management GP LLC

Galaxy Digital Capital Management GP LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,461 shares of the industrial products company’s stock, valued at approximately $991,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenline Wealth Management LLC purchased a new stake in Powell Industries during the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Powell Industries by 183.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 68 shares during the period. Allworth Financial LP purchased a new position in shares of Powell Industries in the 2nd quarter valued at $33,000. State of Wyoming acquired a new position in shares of Powell Industries during the 2nd quarter valued at $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Powell Industries during the 2nd quarter valued at $34,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the transaction, the executive vice president directly owned 78,900 shares in the company, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the business’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 directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 42,898 shares of company stock worth $12,353,653. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Trading Up 0.6%

Shares of POWL stock opened at $190.19 on Wednesday. The firm has a fifty day simple moving average of $235.21 and a 200-day simple moving average of $231.39. The company has a market capitalization of $6.93 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 2.52 and a beta of 1.18. Powell Industries, Inc. has a twelve month low of $83.85 and a twelve month high of $328.00.

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

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given 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 payout ratio is presently 6.91%.

Analyst Ratings Changes

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

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.