Powell Industries, Inc. $POWL Position Raised 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% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,554 shares of the industrial products company's stock after buying 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.

Several other large investors also recently bought and sold shares of POWL. Demars Financial Group LLC acquired a new stake in Powell Industries in the first quarter valued at approximately $58,692,000. GW&K Investment Management LLC acquired a new stake in Powell Industries in the first quarter valued at approximately $27,984,000. RPG Investment Advisory LLC grew its position in Powell Industries by 342.4% in the first quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock valued at $26,252,000 after acquiring an additional 119,289 shares in the last quarter. GAMMA Investing LLC grew its position in Powell Industries by 22,009.7% in the first quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after acquiring an additional 101,905 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in Powell Industries in the first quarter valued at approximately $16,405,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Trading Down 1.9%

NASDAQ:POWL traded down $5.11 during trading hours on Monday, hitting $266.16. The stock had a trading volume of 151,563 shares, compared to its average volume of 301,615. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $364.98. The company has a market cap of $3.21 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85. The business has a 50 day simple moving average of $234.71 and a two-hundred day simple moving average of $197.82.

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

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's payout ratio is currently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $825,566.55. Following the completion of the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Birchall sold 3,000 shares of the firm's stock in a transaction 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 $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,308 shares of company stock valued at $4,354,845 over the last 90 days. 2.20% of the stock is owned by company 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.