Envestnet Asset Management Inc. Increases Stake in Powell Industries, Inc. (NASDAQ:POWL)

Envestnet Asset Management Inc. grew its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 29.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,178 shares of the industrial products company's stock after purchasing an additional 15,770 shares during the period. Envestnet Asset Management Inc. owned about 0.57% of Powell Industries worth $11,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Vanguard Group Inc. grew its stake in Powell Industries by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock valued at $152,508,000 after purchasing an additional 24,997 shares during the last quarter. American Century Companies Inc. grew its stake in Powell Industries by 8.3% in the fourth quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock valued at $77,965,000 after purchasing an additional 27,029 shares during the last quarter. Demars Financial Group LLC purchased a new position in Powell Industries in the first quarter valued at about $58,692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Powell Industries by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock valued at $66,023,000 after purchasing an additional 16,002 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Powell Industries by 134.0% in the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock valued at $58,768,000 after purchasing an additional 151,850 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $1,426,476.25. Following the sale, the chief executive officer owned 147,471 shares in the company, valued at approximately $31,050,019.05. This represents a 4.39% 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 3,921 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,308 shares of company stock worth $3,574,755. Insiders own 2.20% of the company's stock.

Powell Industries Trading Down 1.8%

Shares of POWL stock traded down $4.02 during trading hours on Tuesday, reaching $216.89. 151,580 shares of the company's stock were exchanged, compared to its average volume of 414,444. Powell Industries, Inc. has a 1 year low of $127.41 and a 1 year high of $364.98. The stock has a market cap of $2.62 billion, a PE ratio of 15.20, a PEG ratio of 1.15 and a beta of 0.77. The stock's fifty day moving average price is $193.18 and its two-hundred day moving average price is $196.83.

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

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, May 21st. Powell Industries's payout ratio is presently 7.52%.

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.