Oppenheimer & Co. Inc. Has $1.22 Million Stake in Powell Industries, Inc. (NASDAQ:POWL)

Oppenheimer & Co. Inc. lifted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 59.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,138 shares of the industrial products company’s stock after purchasing an additional 2,665 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.06% of Powell Industries worth $1,216,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of POWL. Principal Securities Inc. acquired a new position in Powell Industries in the fourth quarter valued at approximately $26,000. Private Advisor Group LLC lifted its holdings in Powell Industries by 7.1% in the fourth quarter. Private Advisor Group LLC now owns 2,238 shares of the industrial products company’s stock valued at $496,000 after buying an additional 148 shares during the period. Proficio Capital Partners LLC acquired a new position in Powell Industries in the fourth quarter valued at approximately $3,095,000. Smartleaf Asset Management LLC lifted its holdings in Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock valued at $37,000 after buying an additional 132 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Powell Industries in the fourth quarter valued at approximately $57,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $212.92 on Friday. The company’s 50 day simple moving average is $182.61 and its 200 day simple moving average is $199.19. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The firm has a market capitalization of $2.57 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.07 and a beta of 0.72.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.75 earnings per share. Sell-side analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $0.2675 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.50%. Powell Industries’s dividend payout ratio (DPR) is presently 7.52%.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 200 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $200.00, for a total transaction of $40,000.00. Following the completion of the sale, the executive vice president now owns 35,354 shares of the company’s stock, valued at $7,070,800. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 780 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $200.00, for a total transaction of $156,000.00. Following the sale, the chief executive officer now directly owns 157,345 shares of the company’s stock, valued at $31,469,000. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

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.