Federated Hermes Inc. Grows Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Federated Hermes Inc. boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 96.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 123,349 shares of the industrial products company's stock after purchasing an additional 60,690 shares during the period. Federated Hermes Inc. owned approximately 1.02% of Powell Industries worth $21,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in Powell Industries by 3.1% during 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 during the period. Freedom Investment Management Inc. grew 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 purchasing an additional 87 shares during the period. GeoWealth Management LLC grew 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 purchasing an additional 99 shares during the period. Two Sigma Investments LP grew its position in Powell Industries by 3.7% during the 4th quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company's stock worth $644,000 after purchasing an additional 104 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Powell Industries by 6.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company's stock worth $379,000 after purchasing an additional 109 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of the firm'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 $825,566.55. Following the transaction, the executive vice president directly owned 28,900 shares of the company's stock, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the completion of the transaction, the chief executive officer directly owned 147,471 shares in the company, valued at $31,050,019.05. This represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,308 shares of company stock worth $3,574,755 over the last 90 days. Insiders own 2.20% of the company's stock.

Powell Industries Trading Down 4.0%

POWL traded down $9.44 during midday trading on Friday, hitting $227.66. 397,717 shares of the company were exchanged, compared to its average volume of 244,685. Powell Industries, Inc. has a 1-year low of $143.00 and a 1-year high of $364.98. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.20 and a beta of 0.77. The company's 50 day simple moving average is $203.62 and its 200 day simple moving average is $197.19.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted 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 period last year, the firm earned $2.75 EPS. The company's quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.2675 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.5%. Powell Industries's dividend payout ratio (DPR) is 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.