Thoroughbred Financial Services LLC Invests $302,000 in Powell Industries, Inc. (NASDAQ:POWL)

Thoroughbred Financial Services LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,108 shares of the industrial products company’s stock, valued at approximately $302,000.

Other large investors have also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC grew its stake in shares of Powell Industries by 4.6% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 142 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 1,033 shares during the period. Dimensional Fund Advisors LP raised its position in Powell Industries by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock valued at $71,427,000 after purchasing an additional 9,177 shares in the last quarter. Oxford Asset Management LLP purchased a new position in shares of Powell Industries in the 4th quarter valued at about $229,000. Finally, Virtu Financial LLC acquired a new position in shares of Powell Industries during the fourth quarter worth about $214,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at approximately $21,166,762.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,100 shares of company stock worth $2,224,552. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 2.5 %

Shares of POWL stock opened at $174.44 on Wednesday. The company has a market cap of $2.09 billion, a P/E ratio of 20.72, a PEG ratio of 0.99 and a beta of 0.87. The firm has a fifty day moving average price of $156.63 and a 200 day moving average price of $156.14. Powell Industries, Inc. has a 12 month low of $72.51 and a 12 month high of $209.14.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business had revenue of $288.17 million during the quarter, compared to analysts’ expectations of $222.18 million. During the same period in the prior year, the firm posted $1.52 EPS. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.61%. Powell Industries’s dividend payout ratio is presently 12.59%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th.

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.