VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Powell Industries, Inc. $POWL

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,900 shares of the industrial products company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sei Investments Co. increased its stake in Powell Industries by 2.7% during the first quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 77 shares during the period. Brooklyn Investment Group increased its stake in Powell Industries by 168.8% during the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares during the period. Rhumbline Advisers increased its stake in Powell Industries by 0.5% during the first quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company’s stock worth $4,337,000 after purchasing an additional 118 shares during the period. Huntleigh Advisors Inc. increased its stake in Powell Industries by 5.6% during the second quarter. Huntleigh Advisors Inc. now owns 2,268 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 120 shares during the period. Finally, US Bancorp DE increased its stake in Powell Industries by 4.8% during the first quarter. US Bancorp DE now owns 2,775 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 126 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

POWL stock opened at $364.99 on Friday. The company’s 50 day moving average price is $295.27 and its 200 day moving average price is $232.26. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $367.48. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.63 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23. The firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.79 earnings per share. Equities analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Powell Industries’s dividend payout ratio is 7.43%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Powell Industries has an average rating of “Buy” and an average price target of $312.00.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Birchall sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. This trade represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

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.