Demars Financial Group LLC Makes New $58.69 Million Investment in Powell Industries, Inc. (NASDAQ:POWL)

Demars Financial Group LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 344,578 shares of the industrial products company's stock, valued at approximately $58,692,000. Demars Financial Group LLC owned 2.86% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Powell Industries during the first quarter worth about $25,000. Principal Securities Inc. acquired a new position in Powell Industries during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Blue Trust Inc. bought a new position in Powell Industries in the 4th quarter worth about $40,000. Finally, GeoWealth Management LLC grew its position in Powell Industries by 123.8% in the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Price Performance

Shares of POWL traded down $3.51 during trading hours on Friday, reaching $175.42. 395,526 shares of the company's stock traded hands, compared to its average volume of 423,779. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.90 and a beta of 0.72. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The business's fifty day simple moving average is $180.07 and its two-hundred day simple moving average is $203.04.

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

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.61%. Powell Industries's payout ratio is 7.52%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 780 shares of the firm's stock in a transaction dated 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 approximately $31,469,000. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael William Metcalf sold 200 shares of Powell Industries stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $200.00, for a total transaction of $40,000.00. Following the completion of the transaction, the executive vice president now directly owns 35,354 shares in the company, valued at $7,070,800. This represents a 0.56% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

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.