Carnegie Investment Counsel Has $12.42 Million Holdings in Powell Industries, Inc. $POWL

Carnegie Investment Counsel increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 53.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,748 shares of the industrial products company’s stock after acquiring an additional 14,200 shares during the period. Carnegie Investment Counsel’s holdings in Powell Industries were worth $12,420,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of POWL. Cadent Capital Advisors LLC acquired a new position in Powell Industries in the third quarter worth $2,061,000. Curbstone Financial Management Corp acquired a new position in Powell Industries during the 3rd quarter worth about $442,000. Chatham Capital Group Inc. grew its holdings in Powell Industries by 1.7% during the 3rd quarter. Chatham Capital Group Inc. now owns 14,374 shares of the industrial products company’s stock worth $4,381,000 after acquiring an additional 240 shares during the last quarter. Strong Tower Advisory Services grew its holdings in Powell Industries by 1.8% during the 3rd quarter. Strong Tower Advisory Services now owns 5,767 shares of the industrial products company’s stock worth $1,758,000 after acquiring an additional 102 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Powell Industries by 334.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 800 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 616 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president owned 4,451 shares in the company, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $340.86 on Friday. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $413.00. The firm has a market capitalization of $4.12 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.57 and a beta of 0.87. The company’s 50 day simple moving average is $342.48 and its 200 day simple moving average is $283.69.

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

Powell Industries Announces Dividend

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

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.