Principal Financial Group Inc. Boosts Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,568 shares of the industrial products company’s stock after purchasing an additional 1,509 shares during the quarter. Principal Financial Group Inc. owned 0.46% of Powell Industries worth $9,465,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of POWL. Allspring Global Investments Holdings LLC lifted its position in shares of Powell Industries by 93.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company’s stock worth $675,000 after purchasing an additional 1,858 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Powell Industries by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 137 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 138 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Powell Industries by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock valued at $20,942,000 after acquiring an additional 637 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Powell Industries by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 292 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Insider Transactions at Powell Industries

In other news, EVP Michael William Metcalf sold 3,921 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following the completion of the transaction, the executive vice president directly owned 28,900 shares of the company’s stock, valued at $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the sale, the chief executive officer directly owned 147,471 shares of the company’s stock, valued at approximately $31,050,019.05. This represents a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,308 shares of company stock worth $3,574,755 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

POWL opened at $210.56 on Tuesday. The business’s 50-day moving average is $189.30 and its two-hundred day moving average is $197.02. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The firm has a market capitalization of $2.54 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77.

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

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Wednesday, May 21st. Powell Industries’s dividend payout ratio is currently 7.52%.

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.