Invst LLC Purchases 1,496 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Invst LLC lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 55.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,201 shares of the industrial products company’s stock after purchasing an additional 1,496 shares during the period. Invst LLC’s holdings in Powell Industries were worth $603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Powell Industries in the 2nd quarter worth $47,000. Plato Investment Management Ltd bought a new position in Powell Industries in the 1st quarter worth $50,000. Canada Pension Plan Investment Board purchased a new position in Powell Industries during the second quarter valued at $72,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Powell Industries during the second quarter valued at about $140,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the transaction, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the firm’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 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. In the last 90 days, insiders have sold 38,100 shares of company stock valued at $7,563,552. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $221.99 on Tuesday. The company has a market capitalization of $2.66 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.30 and a beta of 0.87. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $226.00. The firm’s 50 day simple moving average is $170.15 and its two-hundred day simple moving average is $159.08.

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

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

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.