Bayesian Capital Management LP Invests $1.23 Million in Powell Industries, Inc. (NASDAQ:POWL)

Bayesian Capital Management LP bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,619 shares of the industrial products company’s stock, valued at approximately $1,226,000. Bayesian Capital Management LP owned 0.07% of Powell Industries at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Powell Industries by 471.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after purchasing an additional 25,789 shares in the last quarter. Spirepoint Private Client LLC acquired a new position in shares of Powell Industries in the 1st quarter worth approximately $3,533,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Powell Industries in the 4th quarter valued at approximately $1,635,000. Vanguard Group Inc. boosted its position in shares of Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after acquiring an additional 17,177 shares in the last quarter. Finally, Navellier & Associates Inc. boosted its position in shares of Powell Industries by 368.6% during the 4th quarter. Navellier & Associates Inc. now owns 19,062 shares of the industrial products company’s stock worth $1,685,000 after acquiring an additional 14,994 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th.

Powell Industries Stock Up 33.0 %

POWL stock opened at $177.24 on Wednesday. Powell Industries, Inc. has a 52-week low of $60.44 and a 52-week high of $209.14. The stock’s fifty day simple moving average is $157.22 and its 200-day simple moving average is $146.27. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The company had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same period last year, the company posted $1.52 earnings per share. The firm’s revenue was up 49.8% compared to the same quarter last year. As a group, analysts anticipate that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Powell Industries

In related news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 20,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $205.87, for a total value of $4,117,400.00. Following the sale, the insider now owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The disclosure for this sale can be found here. Insiders sold a total of 34,650 shares of company stock worth $6,472,034 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Powell Industries Company Profile

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.