Independent Advisor Alliance Buys 1,955 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Key Points

• Independent Advisor Alliance increased its stake in Powell Industries by 9.8%, acquiring an additional 1,955 shares during the first quarter, bringing their total holdings to 21,997 shares valued at approximately $3.75 million.
• In the latest quarter, Powell Industries reported earnings of $3.96 per share, exceeding analyst estimates, despite a 0.7% year-over-year decline in revenue.
• The company will pay a quarterly dividend of $0.2675 on September 17th, representing an annualized yield of 0.4% and a payout ratio of 7.43%.

Independent Advisor Alliance boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,997 shares of the industrial products company's stock after acquiring an additional 1,955 shares during the quarter. Independent Advisor Alliance owned approximately 0.18% of Powell Industries worth $3,747,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Powell Industries by 10.6% during the 4th quarter. JPMorgan Chase & Co. now owns 29,701 shares of the industrial products company's stock worth $6,583,000 after buying an additional 2,843 shares during the period. Wells Fargo & Company MN boosted its stake in Powell Industries by 58.5% during the 4th quarter. Wells Fargo & Company MN now owns 44,830 shares of the industrial products company's stock worth $9,937,000 after acquiring an additional 16,544 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Powell Industries by 4.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 53,408 shares of the industrial products company's stock worth $11,838,000 after acquiring an additional 2,382 shares during the last quarter. Bank of Montreal Can boosted its stake in Powell Industries by 46.2% during the 4th quarter. Bank of Montreal Can now owns 1,988 shares of the industrial products company's stock worth $441,000 after acquiring an additional 628 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Powell Industries by 134.0% during the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after acquiring an additional 151,850 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

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 transaction of $825,566.55. Following the completion of the transaction, the executive vice president directly 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 hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of the business'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 sale, the chief executive officer directly owned 147,471 shares of the company's stock, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock valued at $3,574,755 over the last three months. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

Powell Industries stock opened at $264.83 on Tuesday. The company's 50 day simple moving average is $211.52 and its 200 day simple moving average is $194.53. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.21 and a beta of 0.81.

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 for the quarter, beating 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 firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. During the same quarter in the previous year, the firm posted $3.79 earnings per share. The business's revenue was down .7% on a year-over-year basis. As a group, analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid 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 currently 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.

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