11,657 Shares in Powell Industries, Inc. $POWL Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. acquired 11,657 shares of Powell Industries, Inc. valued at approximately $2.45 million, representing about 0.10% of the company's total shares.
• Other large investors significantly increased their positions in Powell Industries during the first quarter, with institutional investors now owning around 89.77% of the company's stock.
• The company recently reported quarterly earnings of $3.96 EPS, exceeding analyst expectations, and declared a quarterly dividend of $0.2675 per share, reflecting a 0.4% yield.

Congress Asset Management Co. acquired a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,657 shares of the industrial products company's stock, valued at approximately $2,453,000. Congress Asset Management Co. owned approximately 0.10% of Powell Industries as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Demars Financial Group LLC bought a new position in shares of Powell Industries in the 1st quarter valued at about $58,692,000. New Vernon Capital Holdings II LLC bought a new stake in shares of Powell Industries in the 1st quarter valued at approximately $34,554,000. GW&K Investment Management LLC purchased a new position in shares of Powell Industries in the 1st quarter worth approximately $27,984,000. RPG Investment Advisory LLC increased its position in shares of Powell Industries by 342.4% during the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock valued at $26,252,000 after purchasing an additional 119,289 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 buying an additional 101,905 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Powell Industries Stock Up 2.6%

NASDAQ POWL opened at $290.98 on Friday. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $364.98. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.44 and a beta of 0.85. The company has a fifty day moving average of $262.39 and a two-hundred day moving average of $212.49.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million during 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 business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $3.79 EPS. Equities research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th were issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, August 20th. Powell Industries's dividend payout ratio 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.

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