Galaxy Digital Capital Management GP LLC Makes New Investment in Powell Industries, Inc. $POWL

Galaxy Digital Capital Management GP LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWLFree Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 3,461 shares of the industrial products company’s stock, valued at approximately $991,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Greenline Wealth Management LLC bought a new position in shares of Powell Industries in the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Powell Industries by 183.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 68 shares during the last quarter. Allworth Financial LP acquired a new stake in Powell Industries during the second quarter worth about $33,000. State of Wyoming acquired a new stake in Powell Industries during the second quarter worth about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Powell Industries in the second quarter worth about $34,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on POWL. Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald dropped their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.42.

Read Our Latest Stock Analysis on Powell Industries

Powell Industries Stock Up 0.6%

Shares of NASDAQ:POWL opened at $190.19 on Wednesday. The company’s 50-day moving average price is $235.21 and its 200 day moving average price is $231.39. The company has a market cap of $6.93 billion, a PE ratio of 36.50, a P/E/G ratio of 2.52 and a beta of 1.18. Powell Industries, Inc. has a fifty-two week low of $83.85 and a fifty-two week high of $328.00.

Powell Industries (NASDAQ:POWLGet Free Report) last posted its earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The firm had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same quarter last year, the company posted $3.96 EPS. Powell Industries’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s payout ratio is currently 6.91%.

Insider Transactions at Powell Industries

In related news, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares in the company, valued at $22,458,096. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 42,898 shares of company stock worth $12,353,653. Company insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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