Janus Henderson Group PLC Grows Stock Position in Powell Industries, Inc. $POWL

Janus Henderson Group PLC increased its stake in Powell Industries, Inc. (NASDAQ:POWL) by 55.1% in the first quarter, Holdings Channel reports. The institutional investor owned 224,966 shares of the industrial products company’s stock after acquiring an additional 79,932 shares during the period. Janus Henderson Group PLC’s holdings in Powell Industries were worth $121,643,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Powell Industries by 1,230,312.7% in the fourth 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. Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock worth $225,263,000 after acquiring an additional 6,419 shares during the last quarter. State Street Corp boosted 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 period. Voss Capital LP boosted its stake in shares of Powell Industries by 18.6% during the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after purchasing an additional 55,000 shares during the period. Finally, Invesco Ltd. grew its holdings in Powell Industries by 2.4% during the 3rd quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock valued at $106,102,000 after purchasing an additional 8,083 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on POWL. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald boosted their target price on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Glj Research raised 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, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $236.67.

Powell Industries Trading Down 0.4%

Shares of POWL stock opened at $208.46 on Friday. The stock has a fifty day simple moving average of $263.99 and a two-hundred day simple moving average of $223.42. Powell Industries, Inc. has a twelve month low of $69.00 and a twelve month high of $328.00. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 2.73 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The firm had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.81 EPS. Research analysts predict that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s payout ratio is 7.05%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of the business’s 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 sale, the executive vice president owned 78,900 shares in the company, valued at $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. Insiders sold a total of 55,088 shares of company stock worth $16,070,066 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

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.