Ausbil Investment Management Ltd Raises Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Ausbil Investment Management Ltd increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 55.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,185 shares of the industrial products company's stock after purchasing an additional 5,789 shares during the period. Powell Industries makes up approximately 1.8% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 23rd largest position. Ausbil Investment Management Ltd owned 0.13% of Powell Industries worth $2,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in POWL. Blue Trust Inc. acquired a new position in Powell Industries in the 4th quarter valued at about $40,000. Principal Securities Inc. purchased a new position in shares of Powell Industries in the fourth quarter valued at approximately $26,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Powell Industries in the fourth quarter valued at approximately $1,489,000. Principal Financial Group Inc. increased its stake in Powell Industries by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 54,059 shares of the industrial products company's stock worth $11,982,000 after buying an additional 2,552 shares during the period. Finally, Private Advisor Group LLC increased its stake in Powell Industries by 7.1% during the 4th quarter. Private Advisor Group LLC now owns 2,238 shares of the industrial products company's stock worth $496,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Trading Up 4.8%

POWL traded up $9.11 on Thursday, hitting $199.37. 291,891 shares of the company were exchanged, compared to its average volume of 421,960. The firm has a 50-day moving average price of $181.70 and a two-hundred day moving average price of $199.93. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.72.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The business had revenue of $278.63 million during the quarter, compared to analysts' expectations of $282.68 million. During the same quarter last year, the business posted $2.75 EPS. The business's quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Powell Industries

In related news, EVP Michael William Metcalf sold 200 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $200.00, for a total value 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 represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 780 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $200.00, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 157,345 shares in the company, valued at $31,469,000. This represents a 0.49% 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.

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.