164,292 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 164,292 shares of the industrial products company's stock, valued at approximately $27,984,000. GW&K Investment Management LLC owned approximately 1.36% of Powell Industries at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in Powell Industries in the first quarter valued at approximately $25,000. GeoWealth Management LLC boosted its position in Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after buying an additional 99 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in Powell Industries in the fourth quarter valued at approximately $43,000. Prestige Wealth Management Group LLC boosted its position in Powell Industries by 100.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after buying an additional 100 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Powell Industries in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were 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 in the company, valued at approximately $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $1,426,476.25. Following the completion of the transaction, the chief executive officer owned 147,471 shares in the company, 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 quarter, insiders have sold 17,308 shares of company stock worth $3,574,755. 2.20% of the stock is owned by company insiders.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $220.91 on Tuesday. The firm has a market cap of $2.67 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.15 and a beta of 0.77. The firm's fifty day moving average is $193.18 and its 200-day moving average is $196.83. Powell Industries, Inc. has a 52 week low of $127.41 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. Powell Industries's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.75 earnings per share. Sell-side analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.48%. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

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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