New York State Teachers Retirement System Increases Holdings in Powell Industries, Inc. (NASDAQ:POWL)

New York State Teachers Retirement System boosted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 17.5% during the fourth quarter, Holdings Channel reports. The firm owned 8,108 shares of the industrial products company’s stock after acquiring an additional 1,205 shares during the quarter. New York State Teachers Retirement System’s holdings in Powell Industries were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its holdings in Powell Industries by 7.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 2,421 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 158 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Powell Industries by 55.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 549 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 195 shares during the period. Legal & General Group Plc grew its holdings in shares of Powell Industries by 1.8% during the 4th quarter. Legal & General Group Plc now owns 19,266 shares of the industrial products company’s stock worth $678,000 after acquiring an additional 340 shares during the period. Covestor Ltd grew its holdings in shares of Powell Industries by 121.1% during the 3rd quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 436 shares during the period. Finally, UBS Group AG grew its holdings in shares of Powell Industries by 9.9% during the 4th quarter. UBS Group AG now owns 5,422 shares of the industrial products company’s stock worth $191,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Powell Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the sale, the insider now owns 714,643 shares in the company, valued at approximately $108,168,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the transaction, the insider now directly owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the transaction, the insider now directly owns 714,643 shares in the company, valued at $108,168,364.48. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $4,850,830 in the last 90 days. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

POWL stock opened at $128.14 on Friday. Powell Industries, Inc. has a fifty-two week low of $38.91 and a fifty-two week high of $197.87. The business’s 50 day moving average price is $149.15 and its two-hundred day moving average price is $108.12. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.98. The company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $182.04 million. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. The firm’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts forecast that Powell Industries, Inc. will post 7.54 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were paid a $0.262 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.05 annualized dividend and a dividend yield of 0.82%. Powell Industries’s payout ratio is currently 16.64%.

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.