Ausbil Investment Management Ltd Reduces Holdings in Powell Industries, Inc. $POWL

Ausbil Investment Management Ltd reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 70.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,163 shares of the industrial products company’s stock after selling 12,087 shares during the period. Ausbil Investment Management Ltd’s holdings in Powell Industries were worth $1,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Powell Industries in the 2nd quarter worth $33,000. State of Wyoming purchased a new stake in Powell Industries in the second quarter worth about $33,000. Brooklyn Investment Group increased its position in Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after buying an additional 60 shares during the period. Finally, Virtus Advisers LLC purchased a new position in shares of Powell Industries during the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 3.6%

Shares of POWL opened at $328.76 on Friday. The business’s 50 day moving average is $340.71 and its 200 day moving average is $277.20. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $413.00. The company has a market capitalization of $3.97 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.48 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. The business had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $3.77 EPS. Equities research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, November 19th. Powell Industries’s payout ratio is currently 7.21%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Powell Industries in a research note on Monday, December 8th. Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Powell Industries has a consensus rating of “Buy” and an average price target of $350.00.

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the sale, the executive vice president owned 25,700 shares in the company, valued at $7,677,618. The trade was a 11.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

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.