Cerity Partners LLC Increases Position in Powell Industries, Inc. (NASDAQ:POWL)

Cerity Partners LLC lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 28.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,900 shares of the industrial products company's stock after purchasing an additional 11,149 shares during the quarter. Cerity Partners LLC owned about 0.41% of Powell Industries worth $8,500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of Powell Industries by 3.1% in the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after purchasing an additional 85 shares in the last quarter. Freedom Investment Management Inc. lifted its position in Powell Industries by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock worth $537,000 after acquiring an additional 87 shares during the period. PNC Financial Services Group Inc. lifted its position in Powell Industries by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company's stock worth $217,000 after acquiring an additional 90 shares during the period. GeoWealth Management LLC lifted its position in Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its position in Powell Industries by 100.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock worth $44,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Price Performance

POWL traded down $6.61 on Friday, reaching $229.90. 219,923 shares of the stock were exchanged, compared to its average volume of 415,517. The company's 50-day moving average price is $192.11 and its 200 day moving average price is $197.18. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The firm has a market capitalization of $2.77 billion, a PE ratio of 16.16, a PEG ratio of 1.10 and a beta of 0.77.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The company had revenue of $278.63 million during the quarter, compared to analysts' expectations of $282.68 million. During the same quarter in the previous year, the firm posted $2.75 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a $0.2675 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.47%. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Insider Activity

In other news, EVP Michael William Metcalf sold 3,921 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following the completion of the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the transaction, the chief executive officer directly owned 147,471 shares of the company's stock, valued at approximately $31,050,019.05. This trade represents a 4.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,308 shares of company stock valued at $3,574,755. Insiders own 2.20% of the company's stock.

Powell Industries Company 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.