Bank of New York Mellon Corp raised its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 7.1% during the third quarter, Holdings Channel reports. The fund owned 141,135 shares of the company’s stock after buying an additional 9,316 shares during the period. Bank of New York Mellon Corp owned approximately 1.24% of Powell Industries worth $5,653,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of POWL. BNP Paribas Arbitrage SA raised its position in shares of Powell Industries by 103.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,714 shares of the company’s stock valued at $107,000 after buying an additional 1,378 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Powell Industries by 3.4% in the second quarter. BlackRock Advisors LLC now owns 4,162 shares of the company’s stock valued at $164,000 after buying an additional 138 shares during the last quarter. BlackRock Inc. raised its position in shares of Powell Industries by 444.4% in the second quarter. BlackRock Inc. now owns 4,426 shares of the company’s stock valued at $174,000 after buying an additional 3,613 shares during the last quarter. Algert Global LLC acquired a new position in shares of Powell Industries during the second quarter valued at about $207,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Powell Industries during the second quarter valued at about $239,000. Institutional investors own 62.76% of the company’s stock.
Shares of Powell Industries, Inc. (NASDAQ:POWL) traded up 1.76% during midday trading on Wednesday, reaching $39.95. The company had a trading volume of 18,101 shares. The company has a market capitalization of $455.87 million, a PE ratio of 29.38 and a beta of 0.70. The company has a 50 day moving average of $39.68 and a 200 day moving average of $39.04. Powell Industries, Inc. has a one year low of $23.00 and a one year high of $47.24.
Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, December 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.47. The firm had revenue of $129.79 million for the quarter, compared to the consensus estimate of $121.67 million. Powell Industries had a return on equity of 6.46% and a net margin of 2.74%. The business’s quarterly revenue was down 20.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts predict that Powell Industries, Inc. will post ($0.20) EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Powell Industries from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 20th.
In other Powell Industries news, Director Christopher E. Cragg sold 2,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $39.92, for a total transaction of $79,840.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 24.00% of the company’s stock.
Powell Industries Company Profile
Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.
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