1,142 Shares in Powell Industries, Inc. $POWL Bought by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC has purchased 1,142 shares of Powell Industries, Inc. for approximately $240,000 during the second quarter, contributing to a trend of increasing institutional investment in the company.
• Director John Birchall and EVP Michael William Metcalf both executed significant stock sales, reducing their holdings in the firm by 30.93% and 11.07%, respectively.
• Powell Industries reported a quarterly EPS of $3.96, surpassing estimates, although revenues declined slightly compared to the previous year, with a net margin of 16.22%.

Park Avenue Securities LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,142 shares of the industrial products company's stock, valued at approximately $240,000.

Other large investors have also added to or reduced their stakes in the company. Demars Financial Group LLC purchased a new position in Powell Industries in the first quarter valued at approximately $58,692,000. New Vernon Capital Holdings II LLC bought a new position in shares of Powell Industries during the 1st quarter worth $34,554,000. GW&K Investment Management LLC bought a new position in shares of Powell Industries during the 1st quarter worth $27,984,000. RPG Investment Advisory LLC increased its holdings in Powell Industries by 342.4% in the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock worth $26,252,000 after acquiring an additional 119,289 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Powell Industries by 22,009.7% in the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after acquiring an additional 101,905 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insiders Place Their Bets

In other Powell Industries news, Director John Birchall sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael William Metcalf sold 3,200 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $298.74, for a total value of $955,968.00. Following the sale, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

Powell Industries Stock Up 4.1%

NASDAQ POWL opened at $317.22 on Thursday. The company has a market cap of $3.83 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $364.98. The firm's 50-day simple moving average is $267.35 and its two-hundred day simple moving average is $215.06.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.23. The company 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 quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.79 earnings per share. As a group, equities research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th were given a $0.2675 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. Powell Industries's payout ratio is 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.

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