Powell Industries, Inc. (NASDAQ:POWL) Stake Lifted by US Bancorp DE

US Bancorp DE increased its stake in Powell Industries, Inc. (NASDAQ:POWL) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,775 shares of the industrial products company’s stock after acquiring an additional 126 shares during the period. US Bancorp DE’s holdings in Powell Industries were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in POWL. Harbour Investments Inc. boosted its position in shares of Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 197 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Powell Industries by 96.9% during the 1st quarter. Federated Hermes Inc. now owns 123,349 shares of the industrial products company’s stock valued at $21,010,000 after purchasing an additional 60,690 shares in the last quarter. Assetmark Inc. boosted its position in shares of Powell Industries by 32.3% during the 1st quarter. Assetmark Inc. now owns 14,792 shares of the industrial products company’s stock valued at $2,520,000 after purchasing an additional 3,615 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Powell Industries by 177.5% during the 1st quarter. Cetera Investment Advisers now owns 4,937 shares of the industrial products company’s stock valued at $841,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Powell Industries by 35.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,709 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 446 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Insider Activity at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 shares of the business’s 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 in the company, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $825,566.55. Following the transaction, the executive vice president directly owned 28,900 shares in the company, valued at $6,084,895. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,308 shares of company stock worth $3,574,755. Insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 2.0%

NASDAQ:POWL opened at $270.18 on Wednesday. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98. The company has a 50-day moving average of $213.45 and a 200-day moving average of $195.06. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.31 and a beta of 0.81.

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

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.43%.

Powell Industries 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.