Cerity Partners LLC Acquires 4,918 Shares of Powell Industries, Inc. $POWL

Cerity Partners LLC raised its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,818 shares of the industrial products company’s stock after acquiring an additional 4,918 shares during the quarter. Cerity Partners LLC owned approximately 0.45% of Powell Industries worth $11,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in shares of Powell Industries by 177.5% during the 1st quarter. Cetera Investment Advisers now owns 4,937 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 3,158 shares during the last quarter. US Bancorp DE raised its holdings in Powell Industries by 4.8% in the first quarter. US Bancorp DE now owns 2,775 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 126 shares in the last quarter. Vanguard Group Inc. raised its holdings in Powell Industries by 1.4% in the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company’s stock worth $118,871,000 after purchasing an additional 9,829 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Powell Industries by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,800 shares of the industrial products company’s stock valued at $16,147,000 after buying an additional 318 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Powell Industries by 4.1% in the 1st quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company’s stock valued at $47,008,000 after buying an additional 10,840 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on POWL shares. Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Powell Industries in a report on Monday. Finally, Roth Capital reiterated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $350.00.

Insider Transactions at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the sale, the executive vice president directly owned 25,700 shares in the company, valued at approximately $7,677,618. The trade was a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Price Performance

NASDAQ POWL opened at $359.84 on Thursday. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.61 and a beta of 0.87. The stock’s fifty day moving average price is $337.81 and its 200 day moving average price is $271.19. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.46. The business had revenue of $297.98 million for the quarter, compared to the consensus estimate of $292.85 million. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.77 EPS. Research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, November 19th. Powell Industries’s dividend payout ratio is 7.21%.

Powell Industries Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.