Virtu Financial LLC Acquires New Position in Powell Industries, Inc. (NASDAQ:POWL)

Virtu Financial LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,424 shares of the industrial products company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWL. Panagora Asset Management Inc. raised its holdings in Powell Industries by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company’s stock valued at $3,260,000 after buying an additional 350 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Powell Industries by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,898 shares of the industrial products company’s stock worth $6,621,000 after buying an additional 1,033 shares in the last quarter. Jetstream Capital LLC bought a new position in shares of Powell Industries during the 3rd quarter worth $2,902,000. Raymond James & Associates bought a new position in shares of Powell Industries during the 4th quarter worth $1,085,000. Finally, Stratos Wealth Partners LTD. boosted its position in Powell Industries by 119.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 17,253 shares of the industrial products company’s stock valued at $1,525,000 after purchasing an additional 9,393 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $153.95 on Friday. Powell Industries, Inc. has a fifty-two week low of $57.78 and a fifty-two week high of $209.14. The company has a market cap of $1.85 billion, a PE ratio of 18.28, a P/E/G ratio of 1.24 and a beta of 0.92. The business has a 50-day simple moving average of $163.16 and a two-hundred day simple moving average of $135.58.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. During the same period last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, sell-side analysts predict that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th were given a dividend of $0.265 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, May 14th. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Insider Activity at Powell Industries

In related news, Director Katheryn Baucom Curtis sold 5,000 shares of Powell Industries stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $165.79, for a total transaction of $828,950.00. Following the completion of the transaction, the director now directly owns 5,260 shares in the company, valued at $872,055.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Katheryn Baucom Curtis sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $165.79, for a total value of $828,950.00. Following the completion of the sale, the director now directly owns 5,260 shares in the company, valued at $872,055.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Birchall sold 1,100 shares of Powell Industries stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $200.65, for a total value of $220,715.00. Following the completion of the sale, the director now directly owns 8,066 shares in the company, valued at $1,618,442.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,900 shares of company stock worth $6,080,681. 2.20% of the stock is owned by corporate insiders.

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.