Hodges Capital Management Inc. Purchases 8,110 Shares of Powell Industries, Inc. $POWL

Hodges Capital Management Inc. boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 16.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 56,440 shares of the industrial products company’s stock after purchasing an additional 8,110 shares during the quarter. Powell Industries comprises about 1.5% of Hodges Capital Management Inc.’s holdings, making the stock its 18th biggest holding. Hodges Capital Management Inc.’s holdings in Powell Industries were worth $17,203,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new position in shares of Powell Industries in the second quarter worth approximately $33,000. State of Wyoming purchased a new position in Powell Industries in the 2nd quarter worth approximately $33,000. Manchester Capital Management LLC lifted its position in Powell Industries by 42.9% in the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 60 shares in the last quarter. Virtus Advisers LLC purchased a new stake in Powell Industries during the 2nd quarter valued at $46,000. Finally, Optimum Investment Advisors boosted its stake in Powell Industries by 114.3% during the 2nd quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 160 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Treasurer David L. Eckenrode sold 295 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total value of $168,150.00. Following the transaction, the treasurer owned 443 shares of the company’s stock, valued at approximately $252,510. The trade was a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,681 shares of company stock worth $16,331,445. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Cantor Fitzgerald raised their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $415.50.

Powell Industries Trading Down 4.0%

POWL opened at $561.64 on Wednesday. The firm’s 50 day simple moving average is $415.48 and its two-hundred day simple moving average is $345.16. The company has a market capitalization of $6.82 billion, a PE ratio of 36.49, a PEG ratio of 2.66 and a beta of 0.85. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $612.50.

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

Powell Industries Increases Dividend

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