Granahan Investment Management LLC acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,200 shares of the industrial products company's stock, valued at approximately $6,847,000. Granahan Investment Management LLC owned 0.33% of Powell Industries as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Powell Industries during the first quarter worth $25,000. Brooklyn Investment Group grew its stake in Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 108 shares during the period. Harbour Investments Inc. grew its stake in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 197 shares during the period. AlphaQuest LLC grew its stake in Powell Industries by 472.0% in the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock valued at $73,000 after acquiring an additional 354 shares during the period. Finally, GAMMA Investing LLC grew its stake in Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock valued at $102,000 after acquiring an additional 138 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director John Birchall sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the company's stock in a transaction dated 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 owned 28,900 shares in the company, valued at $6,084,895. The trade was a 11.95% decrease in their position. 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 over the last three months. Corporate insiders own 2.20% of the company's stock.
Powell Industries Stock Performance
NASDAQ:POWL traded up $4.49 on Tuesday, reaching $276.89. The company's stock had a trading volume of 189,306 shares, compared to its average volume of 366,925. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $364.98. The firm has a market cap of $3.34 billion, a PE ratio of 19.23, a PEG ratio of 1.33 and a beta of 0.85. The business's 50-day moving average price is $241.32 and its two-hundred day moving average price is $200.27.
Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.23. The firm had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.79 earnings per share. As a group, sell-side analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's payout ratio is 7.43%.
About Powell Industries
(
Free Report)
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.
Further Reading
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