Powell Industries, Inc. $POWL Shares Bought by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. increased its stake in Powell Industries by 46.8%, owning shares worth $605,000 after acquiring an additional 1,133 shares in the first quarter.
• Powell Industries reported $3.96 earnings per share for the quarter, surpassing analyst expectations, though its revenue was slightly below estimates.
• The company announced a quarterly dividend of $0.2675 per share, representing an annualized yield of 0.4%, with the next payment scheduled for September 17th.

Freedom Investment Management Inc. boosted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 46.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,554 shares of the industrial products company's stock after purchasing an additional 1,133 shares during the period. Freedom Investment Management Inc.'s holdings in Powell Industries were worth $605,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in Powell Industries by 2.7% during the 1st quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company's stock worth $498,000 after buying an additional 77 shares during the last quarter. Two Sigma Investments LP lifted its holdings 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 buying an additional 104 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Powell Industries by 0.5% in the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock worth $4,337,000 after purchasing an additional 118 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Powell Industries by 4.8% in the 1st quarter. US Bancorp DE now owns 2,775 shares of the industrial products company's stock worth $473,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of the firm'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 sale, the executive vice president directly owned 28,900 shares in the company, valued at $6,084,895. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Birchall sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the sale, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,308 shares of company stock worth $4,354,845 in the last three months. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

Shares of NASDAQ POWL traded down $5.11 during mid-day trading on Friday, hitting $266.16. The company had a trading volume of 151,563 shares, compared to its average volume of 313,947. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.35 and a beta of 0.81. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98. The firm's 50 day simple moving average is $233.00 and its two-hundred day simple moving average is $197.65.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.23. The business had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $3.79 EPS. Equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. Powell Industries's dividend payout ratio (DPR) is 7.43%.

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.