Public Employees Retirement System of Ohio bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,235 shares of the industrial products company’s stock, valued at approximately $2,358,000.
Several other hedge funds also recently added to or reduced their stakes in the business. Capital World Investors purchased a new position in Powell Industries during the fourth quarter valued at approximately $20,704,000. Private Advisory Group LLC acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $14,158,000. Voss Capital LP increased its holdings in shares of Powell Industries by 18.6% during the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Powell Industries by 13.4% during the 4th quarter. GW&K Investment Management LLC now owns 254,520 shares of the industrial products company’s stock valued at $81,137,000 after purchasing an additional 30,013 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in shares of Powell Industries during the 4th quarter valued at approximately $1,409,000. 89.77% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Powell Industries
In other news, EVP Michael Metcalf sold 4,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Cope sold 4,440 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the sale, the chief executive officer owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,898 shares of company stock worth $12,353,653. Corporate insiders own 2.20% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on Powell Industries
Powell Industries Trading Up 3.4%
POWL stock opened at $181.17 on Friday. Powell Industries, Inc. has a 12-month low of $86.36 and a 12-month high of $328.00. The business’s 50-day moving average is $216.71 and its 200 day moving average is $230.49. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.41 and a beta of 1.18.
Powell Industries (NASDAQ:POWL – Get Free Report) last released its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.96 EPS. As a group, equities analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.
Powell Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is presently 6.91%.
Powell Industries Company Profile
Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.
Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.
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