Seven Eight Capital LP Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Seven Eight Capital LP acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,619 shares of the industrial products company’s stock, valued at approximately $376,000.

A number of other institutional investors have also recently made changes to their positions in POWL. Transform Wealth LLC boosted its position in Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after buying an additional 1,667,728 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Powell Industries by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock valued at $71,427,000 after acquiring an additional 9,177 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Powell Industries by 2.7% in the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after purchasing an additional 17,177 shares during the period. American Century Companies Inc. grew its stake in Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Powell Industries by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after purchasing an additional 1,015 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Powell Industries

In other news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $21,166,762.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock valued at $2,224,552 over the last three months. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Up 7.0 %

NASDAQ POWL opened at $206.34 on Monday. Powell Industries, Inc. has a 52 week low of $72.51 and a 52 week high of $209.14. The firm has a 50 day moving average of $160.47 and a two-hundred day moving average of $156.58. The stock has a market capitalization of $2.47 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87.

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

Powell Industries Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s payout ratio is 12.59%.

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.