Powell Industries, Inc. $POWL Shares Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its holdings in Powell Industries, purchasing an additional 2,173 shares, bringing their total to 59,804 shares worth approximately $10.2 million.
• The company reported quarterly earnings of $3.96 per share, exceeding analyst estimates, while revenue was slightly below expectations at $286.27 million.
• Powell Industries declared a quarterly dividend of $0.2675 per share, reflecting an annualized yield of 0.4% and a payout ratio of 7.43%.

Baird Financial Group Inc. boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,804 shares of the industrial products company's stock after buying an additional 2,173 shares during the quarter. Baird Financial Group Inc. owned approximately 0.50% of Powell Industries worth $10,186,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Powell Industries by 108.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,378 shares of the industrial products company's stock worth $1,414,000 after purchasing an additional 3,322 shares during the period. Northern Trust Corp boosted its position in Powell Industries by 15.7% during the fourth quarter. Northern Trust Corp now owns 116,823 shares of the industrial products company's stock worth $25,894,000 after purchasing an additional 15,864 shares during the period. AQR Capital Management LLC boosted its position in Powell Industries by 15.2% during the fourth quarter. AQR Capital Management LLC now owns 62,314 shares of the industrial products company's stock worth $13,812,000 after purchasing an additional 8,216 shares during the period. Algert Global LLC boosted its position in Powell Industries by 9.4% during the fourth quarter. Algert Global LLC now owns 21,044 shares of the industrial products company's stock worth $4,664,000 after purchasing an additional 1,800 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Powell Industries by 28.1% during the fourth quarter. Ameriprise Financial Inc. now owns 45,215 shares of the industrial products company's stock worth $10,022,000 after purchasing an additional 9,923 shares during the period. Institutional investors own 89.77% of the company's stock.

Insider Activity

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 28,900 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,308 shares of company stock worth $4,354,845. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

NASDAQ:POWL traded down $2.49 on Friday, reaching $268.24. 136,710 shares of the company's stock were exchanged, compared to its average volume of 245,921. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.33 and a beta of 0.85. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $364.98. The stock has a fifty day simple moving average of $240.09 and a 200-day simple moving average of $199.53.

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

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is 7.43%.

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.