Invesco Ltd. Increases Holdings in Powell Industries, Inc. $POWL

Key Points

• Invesco Ltd. increased its stake in Powell Industries by 4.1%, owning approximately 2.29% of the company, valued at $47 million.
• Powell Industries reported earnings of $3.96 per share, surpassing analyst estimates, while experiencing a 0.7% decrease in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.2675, translating to an annualized dividend yield of 0.4%.

Invesco Ltd. lifted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275,979 shares of the industrial products company's stock after acquiring an additional 10,840 shares during the period. Invesco Ltd. owned 2.29% of Powell Industries worth $47,008,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Cynosure Group LLC increased its position in Powell Industries by 83.3% during the 1st quarter. Cynosure Group LLC now owns 2,172 shares of the industrial products company's stock valued at $370,000 after buying an additional 987 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Powell Industries by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 94,800 shares of the industrial products company's stock valued at $16,147,000 after buying an additional 318 shares in the last quarter. Vanguard Group Inc. increased its position in Powell Industries by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock valued at $118,871,000 after buying an additional 9,829 shares in the last quarter. Ruffer LLP purchased a new stake in Powell Industries during the 1st quarter valued at about $2,863,000. Finally, US Bancorp DE grew its stake in Powell Industries by 4.8% during the 1st quarter. US Bancorp DE now owns 2,775 shares of the industrial products company's stock valued at $473,000 after purchasing an additional 126 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 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 $1,426,476.25. Following the transaction, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock worth $3,574,755 in the last 90 days. Company insiders own 2.20% of the company's stock.

Powell Industries Price Performance

Powell Industries stock traded up $3.0950 during trading hours on Thursday, hitting $249.6150. 121,092 shares of the stock traded hands, compared to its average volume of 377,055. The firm's 50 day moving average price is $221.66 and its 200-day moving average price is $196.00. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.26 and a beta of 0.81. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98.

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

Powell Industries Announces Dividend

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

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.