Bessemer Group Inc. Purchases 11,211 Shares of Powell Industries, Inc. $POWL

Bessemer Group Inc. increased its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 15,570.8% in the first quarter, HoldingsChannel reports. The firm owned 11,283 shares of the industrial products company’s stock after purchasing an additional 11,211 shares during the period. Bessemer Group Inc.’s holdings in Powell Industries were worth $6,105,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position in Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares in the last quarter. CWM LLC increased its holdings in shares of Powell Industries by 2.0% during the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after buying an additional 24 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Powell Industries by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock worth $219,000 after buying an additional 25 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Powell Industries by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 27 shares during the last quarter. Finally, Cornerstone Investment Partners LLC boosted its holdings in shares of Powell Industries by 1.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock worth $609,000 after acquiring an additional 30 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

POWL has been the subject of a number of recent analyst reports. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings lowered Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Cantor Fitzgerald lifted their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $236.67.

Powell Industries Price Performance

POWL opened at $232.79 on Monday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 3.04 and a beta of 1.13. The company’s 50 day simple moving average is $277.14 and its 200-day simple moving average is $216.73. Powell Industries, Inc. has a one year low of $69.00 and a one year high of $328.00.

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

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction dated 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 sale, the insider directly owned 564,736 shares in the company, valued at $166,309,104.64. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $299.19, for a total value of $1,570,747.50. Following the completion of the sale, the director owned 39,630 shares of the company’s stock, valued at approximately $11,856,899.70. The trade was a 11.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,088 shares of company stock valued at $16,070,066 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Powell Industries 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.