Jupiter Topco LLC Takes $93.84 Million Position in Powell Industries, Inc. $POWL

Jupiter Topco LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 327,667 shares of the industrial products company’s stock, valued at approximately $93,845,000. Jupiter Topco LLC owned 0.90% of Powell Industries as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Powell Industries in the second quarter valued at approximately $1,033,376,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after acquiring an additional 775,097 shares during the period. Bank of New York Mellon Corp acquired a new stake in Powell Industries during the 2nd quarter worth $60,389,000. Tema ETFs LLC grew its position in Powell Industries by 217.3% during the 2nd quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock worth $76,943,000 after purchasing an additional 184,010 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new position in Powell Industries in the third quarter valued at $43,515,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the sale, the insider owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the transaction, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,898 shares of company stock valued at $12,353,653 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

POWL has been the subject of several recent research reports. Cantor Fitzgerald decreased their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Powell Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.42.

Powell Industries Stock Up 0.8%

Shares of NASDAQ:POWL opened at $191.75 on Thursday. Powell Industries, Inc. has a fifty-two week low of $83.85 and a fifty-two week high of $328.00. The firm’s 50-day simple moving average is $233.16 and its 200-day simple moving average is $231.47. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 2.53 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last posted 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). The firm had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.96 earnings per share. On average, research analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s dividend payout ratio (DPR) is currently 6.91%.

About Powell Industries

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.