Hodges Capital Management Inc. Decreases Stake in Powell Industries, Inc. $POWL

Hodges Capital Management Inc. cut its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,793 shares of the industrial products company’s stock after selling 10,990 shares during the quarter. Powell Industries makes up 1.8% of Hodges Capital Management Inc.’s portfolio, making the stock its 10th largest position. Hodges Capital Management Inc.’s holdings in Powell Industries were worth $22,072,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Greenline Wealth Management LLC acquired a new position in Powell Industries during the 4th quarter worth about $29,000. Avanza Fonder AB acquired a new stake in Powell Industries in the 4th quarter valued at about $30,000. State of Wyoming acquired a new stake in Powell Industries in the 2nd quarter valued at about $33,000. Steward Partners Investment Advisory LLC raised its stake in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. Finally, First Horizon Corp acquired a new position in shares of Powell Industries during the fourth quarter worth approximately $40,000. 89.77% of the stock is owned by institutional investors.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $233.96, for a total value of $1,038,782.40. Following the transaction, the chief executive officer owned 164,851 shares of the company’s stock, valued at $38,568,539.96. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the completion of the transaction, the insider owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 55,088 shares of company stock valued at $16,036,366. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

Powell Industries stock opened at $246.33 on Monday. The company has a market cap of $8.97 billion, a PE ratio of 48.21, a PEG ratio of 3.22 and a beta of 1.13. Powell Industries, Inc. has a 1 year low of $68.33 and a 1 year high of $328.00. The company’s 50-day moving average is $285.62 and its two-hundred day moving average is $207.96.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.81 EPS. Research analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Texas Capital raised Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.67.

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.