Ausbil Investment Management Ltd Increases Stock Position in Powell Industries, Inc. $POWL

Key Points

• Ausbil Investment Management Ltd increased its stake in Powell Industries by 6.6% during Q2, now owning 17,250 shares valued at approximately $3.63 million, making it the fund's 24th largest holding.
• Powell Industries reported a quarterly earnings per share of $3.96, surpassing analyst estimates of $3.73, although revenue of $286.27 million fell short of expectations.
• The company declared a quarterly dividend of $0.2675, translating to an annualized yield of 0.4%, with a current payout ratio of 7.43%.

Ausbil Investment Management Ltd grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,250 shares of the industrial products company's stock after purchasing an additional 1,065 shares during the quarter. Powell Industries makes up 2.1% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 24th largest holding. Ausbil Investment Management Ltd owned 0.14% of Powell Industries worth $3,630,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in POWL. Versant Capital Management Inc purchased a new stake in shares of Powell Industries during the 1st quarter valued at $25,000. Brooklyn Investment Group raised its holdings in shares of Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after purchasing an additional 108 shares during the period. Harbour Investments Inc. raised its holdings in shares of Powell Industries by 1,970.0% in the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock worth $35,000 after purchasing an additional 197 shares during the period. AlphaQuest LLC raised its holdings in shares of Powell Industries by 472.0% in the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock worth $73,000 after purchasing an additional 354 shares during the period. Finally, GAMMA Investing LLC increased its position in Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after buying an additional 138 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Price Performance

NASDAQ:POWL opened at $290.98 on Friday. The business has a fifty day simple moving average of $262.39 and a two-hundred day simple moving average of $212.49. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98. The company has a market capitalization of $3.51 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.44 and a beta of 0.85.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million during the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $3.79 EPS. As a group, analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, August 20th. Powell Industries's payout ratio is currently 7.43%.

Insider Buying and Selling

In other news, Director John Birchall sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares of the company's stock, valued at approximately $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 3,200 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the transaction, the executive vice president owned 25,700 shares of the company's stock, valued at $7,677,618. The trade was a 11.07% 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 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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