Demars Financial Group LLC Has $730,000 Stock Position in Powell Industries, Inc. $POWL

Key Points

• Demars Financial Group LLC has significantly reduced its stake in Powell Industries, decreasing its position by 99% during the second quarter, now holding only 3,468 shares valued at $730,000.
• Insider transactions included EVP Michael William Metcalf selling 3,200 shares for approximately $955,968, representing an 11.07% decrease in his holdings.
• Powell Industries reported a quarterly earnings per share of $3.96, surpassing estimates, though revenue of $286.27 million fell short of the anticipated $301.69 million.

Demars Financial Group LLC decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 99.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,468 shares of the industrial products company's stock after selling 341,110 shares during the period. Demars Financial Group LLC's holdings in Powell Industries were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC acquired a new stake in Powell Industries during the second quarter valued at $52,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Powell Industries during the second quarter valued at about $610,000. Huntleigh Advisors Inc. raised its holdings in Powell Industries by 5.6% during the second quarter. Huntleigh Advisors Inc. now owns 2,268 shares of the industrial products company's stock valued at $477,000 after buying an additional 120 shares in the last quarter. Private Trust Co. NA raised its holdings in Powell Industries by 113.8% during the second quarter. Private Trust Co. NA now owns 8,279 shares of the industrial products company's stock valued at $1,742,000 after buying an additional 4,407 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in Powell Industries by 5.6% during the second quarter. WCM Investment Management LLC now owns 66,585 shares of the industrial products company's stock valued at $14,177,000 after buying an additional 3,536 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,200 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction 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 approximately $7,677,618. The trade was a 11.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $780,090.00. Following the transaction, the director directly owned 6,700 shares of the company's stock, valued at $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Powell Industries Price Performance

NASDAQ POWL opened at $330.71 on Monday. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The stock's 50-day moving average is $286.62 and its two-hundred day moving average is $226.84. The firm has a market cap of $3.99 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted 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. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. During the same quarter in the previous year, the firm earned $3.79 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Powell Industries, Inc. will post 13.71 EPS 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 given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Powell Industries's payout ratio is currently 7.43%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Powell Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $312.00.

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.

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