Public Employees Retirement System of Ohio Invests $2.36 Million in Powell Industries, Inc. $POWL

Public Employees Retirement System of Ohio purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,235 shares of the industrial products company’s stock, valued at approximately $2,358,000.

Several other institutional investors also recently bought and sold shares of POWL. BlackRock Inc. bought a new stake in Powell Industries during the 2nd quarter valued at $1,033,376,000. Northwestern Mutual Wealth Management Co. raised its position 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 worth $247,106,000 after acquiring an additional 775,097 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock worth $225,263,000 after purchasing an additional 6,419 shares during the last quarter. State Street Corp lifted its stake in shares of Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after purchasing an additional 3,159 shares during the last quarter. Finally, Voss Capital LP boosted its position in Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael Metcalf sold 4,500 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Cope sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was 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 owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This trade represents a 0.85% 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. Insiders have sold 42,898 shares of company stock valued at $12,353,653 over the last ninety days. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Performance

Shares of POWL stock opened at $181.17 on Friday. Powell Industries, Inc. has a fifty-two week low of $86.36 and a fifty-two week high of $328.00. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.41 and a beta of 1.18. The stock’s 50-day simple moving average is $216.71 and its 200-day simple moving average is $230.49.

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

Powell Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on POWL shares. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings lowered shares of 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 shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Finally, Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.42.

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.