Raymond James Financial Inc. Grows Position in Powell Industries, Inc. $POWL

Raymond James Financial Inc. raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 19.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,808 shares of the industrial products company’s stock after buying an additional 20,043 shares during the quarter. Raymond James Financial Inc. owned about 1.01% of Powell Industries worth $20,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Demars Financial Group LLC bought a new position in shares of Powell Industries during the 1st quarter valued at approximately $58,692,000. GW&K Investment Management LLC bought a new position in shares of Powell Industries during the 1st quarter valued at approximately $27,984,000. GAMMA Investing LLC increased its position in shares of Powell Industries by 22,009.7% during the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company’s stock valued at $17,436,000 after purchasing an additional 101,905 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Powell Industries by 795.9% during the 4th quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock valued at $18,135,000 after purchasing an additional 72,686 shares during the last quarter. Finally, Federated Hermes Inc. increased 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 during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In other news, EVP Michael William Metcalf sold 3,921 shares of the business’s stock in a transaction that occurred 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 owned 28,900 shares of the company’s stock, valued at approximately $6,084,895. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer owned 147,471 shares of the company’s stock, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,308 shares of company stock worth $3,574,755. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ POWL opened at $273.23 on Wednesday. The company has a market cap of $3.30 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.28 and a beta of 0.81. The business’s 50 day moving average price is $227.43 and its 200-day moving average price is $196.37. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.79 EPS. As a group, equities analysts predict 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 given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. Powell Industries’s payout ratio is currently 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.