Principal Financial Group Inc. Decreases Holdings in Powell Industries, Inc. $POWL

Principal Financial Group Inc. trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 38.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,532 shares of the industrial products company’s stock after selling 28,477 shares during the quarter. Principal Financial Group Inc.’s holdings in Powell Industries were worth $13,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of POWL. Royal Bank of Canada lifted its holdings in Powell Industries by 1.5% in the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Powell Industries by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock worth $236,000 after buying an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after buying an additional 1,311 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in Powell Industries by 16.7% during the second quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the industrial products company’s stock valued at $442,000 after buying an additional 300 shares during the period. Institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction dated Friday, December 19th. The shares were 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 owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Roth Mkm reiterated a “buy” rating and set a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Cantor Fitzgerald boosted their price target on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Powell Industries Stock Performance

POWL opened at $570.26 on Wednesday. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 2.56 and a beta of 0.85. The firm’s fifty day moving average is $390.94 and its 200 day moving average is $332.86. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $593.76.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. During the same period in the prior year, the company posted $2.86 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 18th. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is 6.95%.

Powell Industries Company 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.