Powell Industries, Inc. (NASDAQ:POWL) Shares Purchased by Envestnet Asset Management Inc.

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

A number of other institutional investors also recently bought and sold shares of POWL. PNC Financial Services Group Inc. raised its stake 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 valued at $217,000 after acquiring an additional 90 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Powell Industries by 90.5% during the 4th quarter. Farther Finance Advisors LLC now owns 381 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 181 shares during the last quarter. Swiss National Bank raised its stake in Powell Industries by 0.5% during the 4th quarter. Swiss National Bank now owns 18,800 shares of the industrial products company's stock valued at $4,167,000 after acquiring an additional 100 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Powell Industries by 27.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,735 shares of the industrial products company's stock valued at $5,483,000 after acquiring an additional 5,403 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Powell Industries during the 4th quarter valued at approximately $997,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Price Performance

NASDAQ POWL traded up $13.94 on Wednesday, hitting $234.95. 263,924 shares of the company's stock were exchanged, compared to its average volume of 414,224. The firm's 50-day moving average price is $194.37 and its two-hundred day moving average price is $196.83. Powell Industries, Inc. has a fifty-two week low of $127.41 and a fifty-two week high of $364.98. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.11 and a beta of 0.77.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced 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. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The firm had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. During the same quarter in the prior year, the firm earned $2.75 EPS. Powell Industries's quarterly revenue was up 9.2% on a year-over-year basis. On average, research analysts predict 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. Shareholders of record on Wednesday, May 21st were given a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, May 21st. 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 Powell Industries stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at approximately $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of Powell Industries stock in a transaction dated 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 directly owned 147,471 shares in the company, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock worth $3,574,755 over the last three months. 2.20% of the stock is currently owned by corporate 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.