Creative Planning Invests $310,000 in Powell Industries, Inc. (NASDAQ:POWL)

Creative Planning bought a new position in Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,163 shares of the industrial products company’s stock, valued at approximately $310,000.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Powell Industries in the second quarter valued at approximately $1,403,000. Quadrature Capital Ltd purchased a new position in shares of Powell Industries in the first quarter valued at approximately $1,927,000. Commonwealth Equity Services LLC purchased a new position in shares of Powell Industries in the first quarter valued at approximately $1,628,000. FORA Capital LLC purchased a new position in shares of Powell Industries in the first quarter valued at approximately $1,000,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Powell Industries by 471.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock valued at $4,448,000 after acquiring an additional 25,789 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the sale, the insider now owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert B. Callahan sold 1,000 shares of Powell Industries stock in a transaction on 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 of the company’s stock, valued at approximately $1,770,560. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,350 shares of company stock valued at $14,774,341 over the last quarter. 2.20% of the stock is owned by insiders.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $275.58 on Friday. Powell Industries, Inc. has a one year low of $72.51 and a one year high of $284.45. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.46 and a beta of 0.88. The business’s 50 day moving average price is $196.76 and its 200 day moving average price is $168.61.

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

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.38%. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 4th.

Powell Industries 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.