Cornerstone Investment Partners LLC Takes $206,000 Position in Powell Industries, Inc. (NASDAQ:POWL)

Cornerstone Investment Partners LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,332 shares of the industrial products company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jetstream Capital LLC acquired a new position in Powell Industries in the 3rd quarter worth about $2,902,000. Stratos Wealth Partners LTD. raised its holdings in Powell Industries by 119.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 17,253 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 9,393 shares during the period. Invesco Ltd. raised its holdings in Powell Industries by 28.1% in the 3rd quarter. Invesco Ltd. now owns 156,952 shares of the industrial products company’s stock worth $13,011,000 after purchasing an additional 34,455 shares during the period. FMR LLC raised its holdings in Powell Industries by 1,377.9% in the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock worth $11,490,000 after purchasing an additional 129,219 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Powell Industries by 169.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock worth $6,123,000 after purchasing an additional 46,413 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the transaction, the insider now directly owns 714,643 shares in the company, valued at $108,168,364.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $167.46, for a total value of $1,674,600.00. Following the completion of the transaction, the insider now directly owns 1,703,628 shares in the company, valued at $285,289,544.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 6,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the transaction, the insider now owns 714,643 shares of the company’s stock, valued at $108,168,364.48. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $4,850,830 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 1.7 %

NASDAQ:POWL opened at $130.34 on Friday. Powell Industries, Inc. has a 12 month low of $38.91 and a 12 month high of $197.87. The stock has a 50 day moving average of $148.81 and a two-hundred day moving average of $108.45. The firm has a market cap of $1.56 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.00 by $0.98. The company had revenue of $194.00 million during the quarter, compared to analyst estimates of $182.04 million. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. Powell Industries’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. On average, research analysts forecast that Powell Industries, Inc. will post 7.54 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 14th were given a $0.262 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 0.80%. Powell Industries’s dividend payout ratio (DPR) is presently 16.64%.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.