Assetmark Inc. Buys 3,615 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Assetmark Inc. raised its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,792 shares of the industrial products company's stock after buying an additional 3,615 shares during the period. Assetmark Inc. owned approximately 0.12% of Powell Industries worth $2,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of POWL. Sei Investments Co. increased its stake in Powell Industries by 3.1% during the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after buying an additional 85 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Powell Industries during the 4th quarter worth $465,000. LPL Financial LLC increased its stake in Powell Industries by 18.2% during the 4th quarter. LPL Financial LLC now owns 36,808 shares of the industrial products company's stock worth $8,158,000 after buying an additional 5,655 shares during the period. Vanguard Group Inc. increased its stake in Powell Industries by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock worth $152,508,000 after buying an additional 24,997 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Powell Industries by 10.6% during the 4th quarter. JPMorgan Chase & Co. now owns 29,701 shares of the industrial products company's stock worth $6,583,000 after buying an additional 2,843 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brett Alan Cope sold 6,775 shares of the company'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 sale, the chief executive officer directly owned 147,471 shares of the company's stock, valued at approximately $31,050,019.05. This represents a 4.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the company'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 $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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,308 shares of company stock worth $3,574,755 in the last 90 days. 2.20% of the stock is owned by company insiders.

Powell Industries Stock Down 4.0%

Shares of POWL traded down $9.44 during midday trading on Friday, hitting $227.66. The company had a trading volume of 397,502 shares, compared to its average volume of 382,534. The company's 50 day moving average price is $202.56 and its 200 day moving average price is $197.26. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.16 and a beta of 0.77. Powell Industries, Inc. has a 52 week low of $143.00 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. The firm had revenue of $278.63 million during 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.75 EPS. Equities analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The company 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 was Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.5%. Powell Industries's payout ratio is currently 7.52%.

About Powell Industries

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.