Powell Industries, Inc. (NASDAQ:POWL) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 35.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,709 shares of the industrial products company’s stock after acquiring an additional 446 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Powell Industries were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in POWL. Carnegie Investment Counsel lifted its holdings in Powell Industries by 18.6% in the 1st quarter. Carnegie Investment Counsel now owns 16,633 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 2,608 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Powell Industries in the 1st quarter worth $2,152,000. HighPoint Advisor Group LLC lifted its holdings in Powell Industries by 12.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,768 shares of the industrial products company’s stock worth $329,000 after buying an additional 197 shares in the last quarter. GW&K Investment Management LLC acquired a new position in Powell Industries in the 1st quarter worth $27,984,000. Finally, Peterson Wealth Services acquired a new position in Powell Industries in the 1st quarter worth $608,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of POWL stock opened at $243.85 on Friday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 0.81. The company’s fifty day moving average price is $209.68 and its two-hundred day moving average price is $196.18. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. The business had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.79 EPS. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries’s dividend payout ratio is 7.43%.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 147,471 shares in the company, valued at approximately $31,050,019.05. This represents a 4.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the sale, the executive vice president directly owned 28,900 shares of the company’s stock, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,308 shares of company stock worth $3,574,755. Company insiders own 2.20% of the company’s stock.

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.