Powell Industries, Inc. $POWL Shares Purchased by Rossby Financial LCC

Rossby Financial LCC raised its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 800 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Rossby Financial LCC’s holdings in Powell Industries were worth $168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group lifted its holdings in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 197 shares in the last quarter. Morgan Dempsey Capital Management LLC acquired a new position in shares of Powell Industries during the 2nd quarter valued at $52,000. Optimum Investment Advisors lifted its holdings in shares of Powell Industries by 114.3% during the 2nd quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 160 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Powell Industries by 472.0% during the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 354 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Powell Industries Price Performance

Shares of POWL stock opened at $384.26 on Wednesday. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $386.96. The firm has a market capitalization of $4.64 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.79 and a beta of 0.82. The company’s fifty day moving average price is $300.16 and its two-hundred day moving average price is $235.89.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. During the same quarter in the previous year, the business posted $3.79 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current 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 paid a $0.2675 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. Powell Industries’s payout ratio is 7.43%.

Insider Buying and Selling

In other Powell Industries news, Director John Birchall sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. This represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were 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 in the company, valued at approximately $7,677,618. The trade was a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.