Dimensional Fund Advisors LP Cuts Holdings in Powell Industries, Inc. $POWL

Dimensional Fund Advisors LP decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,595 shares of the industrial products company’s stock after selling 39,157 shares during the period. Dimensional Fund Advisors LP’s holdings in Powell Industries were worth $175,059,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Powell Industries by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after buying an additional 6,419 shares during the last quarter. State Street Corp increased its holdings in Powell Industries by 0.9% in the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after buying an additional 3,159 shares in the last quarter. Voss Capital LP increased its holdings in Powell Industries by 18.6% in the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after buying an additional 55,000 shares in the last quarter. Finally, Invesco Ltd. raised its position in Powell Industries by 2.4% in the 3rd quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock worth $106,102,000 after buying an additional 8,083 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. The trade was a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $323.69, for a total value of $809,225.00. Following the sale, the vice president directly owned 10,853 shares in the company, valued at $3,513,007.57. This trade represents a 18.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 55,088 shares of company stock worth $16,070,066. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

POWL has been the topic of several research analyst reports. Cantor Fitzgerald upped their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $236.67.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $232.21 on Friday. Powell Industries, Inc. has a 1-year low of $69.00 and a 1-year high of $328.00. The firm’s 50 day simple moving average is $270.49 and its two-hundred day simple moving average is $220.45. The company has a market capitalization of $8.46 billion, a P/E ratio of 45.44, a P/E/G ratio of 3.03 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The business had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.81 EPS. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is currently 7.05%.

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.