Victory Capital Management Inc. Purchases 2,833 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Victory Capital Management Inc. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 53.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,086 shares of the industrial products company’s stock after buying an additional 2,833 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Powell Industries worth $1,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in POWL. Precision Wealth Strategies LLC grew its position in shares of Powell Industries by 4.6% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock worth $288,000 after buying an additional 142 shares in the last quarter. 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. Dimensional Fund Advisors LP grew its position in shares of Powell Industries by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock worth $71,427,000 after buying an additional 9,177 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of Powell Industries during the 4th quarter worth $229,000. Finally, Virtu Financial LLC bought a new position in shares of Powell Industries during the 4th quarter worth $214,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $192.77 on Friday. The stock has a market capitalization of $2.31 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $209.14. The business has a fifty day moving average price of $158.19 and a 200 day moving average price of $156.28.

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

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James W. Mcgill sold 6,600 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock worth $2,224,552 in the last three months. 2.20% of the stock is owned by 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.