Swiss National Bank raised its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 13.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,400 shares of the industrial products company’s stock after purchasing an additional 2,200 shares during the period. Swiss National Bank owned 0.16% of Powell Industries worth $699,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of POWL. Bank of America Corp DE grew its position in shares of Powell Industries by 107.8% in the 4th quarter. Bank of America Corp DE now owns 9,542 shares of the industrial products company’s stock worth $239,000 after buying an additional 4,950 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Powell Industries by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 956,575 shares of the industrial products company’s stock worth $23,924,000 after buying an additional 4,396 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Powell Industries by 346.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,436 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Powell Industries in the 1st quarter worth approximately $165,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Powell Industries in the 1st quarter worth approximately $211,000. 65.12% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded shares of Powell Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th.
In other Powell Industries news, Director Bonnie V. Hancock sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $37.89, for a total transaction of $75,780.00. Following the sale, the director now owns 17,300 shares of the company’s stock, valued at approximately $655,497. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.90% of the stock is currently owned by insiders.
Shares of Powell Industries stock traded up $1.29 on Friday, reaching $38.97. The stock had a trading volume of 2,823 shares, compared to its average volume of 51,719. The company has a 50 day moving average price of $36.89 and a 200 day moving average price of $34.06. Powell Industries, Inc. has a 1 year low of $22.55 and a 1 year high of $39.02. The stock has a market capitalization of $426.35 million, a P/E ratio of 78.43 and a beta of 1.27.
Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.24. Powell Industries had a net margin of 0.97% and a return on equity of 1.87%. The firm had revenue of $135.60 million for the quarter, compared to the consensus estimate of $132.31 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, August 20th.
Powell Industries Profile
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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