Ausbil Investment Management Ltd Buys 5,789 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Ausbil Investment Management Ltd boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 55.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,185 shares of the industrial products company's stock after purchasing an additional 5,789 shares during the period. Powell Industries accounts for about 1.8% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 23rd biggest holding. Ausbil Investment Management Ltd owned 0.13% of Powell Industries worth $2,757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of POWL. Versant Capital Management Inc bought a new stake in shares of Powell Industries during the 1st quarter worth about $25,000. Principal Securities Inc. bought a new stake in shares of Powell Industries during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 132 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Powell Industries during the fourth quarter worth approximately $40,000. Finally, GeoWealth Management LLC increased its stake in shares of Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Powell Industries from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th.

Powell Industries Stock Performance

POWL stock opened at $175.42 on Monday. Powell Industries, Inc. has a 52 week low of $127.01 and a 52 week high of $364.98. The company has a market capitalization of $2.12 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.88 and a beta of 0.73. The company's 50-day simple moving average is $180.12 and its 200 day simple moving average is $201.19.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The firm had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. During the same quarter in the prior year, the business posted $2.75 EPS. The business's revenue was up 9.2% compared to the same quarter last year. On average, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current 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 paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Wednesday, May 21st. Powell Industries's payout ratio is 7.52%.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 200 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $200.00, for a total transaction of $40,000.00. Following the completion of the transaction, the executive vice president now directly owns 35,354 shares of the company's stock, valued at $7,070,800. This trade represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 780 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $200.00, for a total value of $156,000.00. Following the completion of the sale, the chief executive officer now owns 157,345 shares in the company, valued at $31,469,000. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

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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