Federated Hermes Inc. Has $54.57 Million Stake in Powell Industries, Inc. $POWL

Federated Hermes Inc. boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 17.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,019 shares of the industrial products company’s stock after acquiring an additional 26,901 shares during the quarter. Federated Hermes Inc.’s holdings in Powell Industries were worth $54,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Powell Industries by 31.7% in the 2nd quarter. First Trust Advisors LP now owns 371,016 shares of the industrial products company’s stock valued at $78,080,000 after purchasing an additional 89,407 shares during the period. State Street Corp grew its holdings in Powell Industries by 0.9% during the second 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. Invesco Ltd. increased its position in Powell Industries by 23.2% during the second quarter. Invesco Ltd. now owns 340,008 shares of the industrial products company’s stock worth $71,555,000 after buying an additional 64,029 shares during the last quarter. Geode Capital Management LLC raised its stake in Powell Industries by 2.5% in the second quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock valued at $50,033,000 after buying an additional 5,725 shares during the period. Finally, Ophir Asset Management Pty Ltd lifted its position in shares of Powell Industries by 71.3% in the second quarter. Ophir Asset Management Pty Ltd now owns 185,127 shares of the industrial products company’s stock valued at $42,696,000 after buying an additional 77,031 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Insiders Place Their Bets

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of Powell Industries stock in a transaction on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

POWL opened at $456.93 on Friday. The business has a fifty day simple moving average of $358.62 and a 200 day simple moving average of $315.39. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $462.21. The company has a market capitalization of $5.55 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.46. The company had revenue of $297.98 million during 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 revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.77 earnings per share. Equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, November 19th. Powell Industries’s payout ratio is presently 7.21%.

Wall Street Analyst Weigh In

POWL has been the topic of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on Powell Industries in a report on Friday, January 23rd. They set a “neutral” rating and a $427.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Mkm reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $388.50.

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.