New Vernon Capital Holdings II LLC Takes Position in Powell Industries, Inc. $POWL

Key Points

• New Vernon Capital Holdings II LLC has acquired 202,863 shares of Powell Industries, valued at approximately $34.55 million, marking it as the firm's 25th largest position.
• Additional institutional investors, including Demars Financial Group LLC and GAMMA Investing LLC, have also recently increased their stakes in Powell Industries, bringing institutional ownership to 89.77%.
• Powell Industries reported a quarterly EPS of $3.96, beating estimates, but showed a slight decline in year-over-year revenue compared to the previous quarter.

New Vernon Capital Holdings II LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 202,863 shares of the industrial products company's stock, valued at approximately $34,554,000. Powell Industries comprises 0.2% of New Vernon Capital Holdings II LLC's holdings, making the stock its 25th biggest holding. New Vernon Capital Holdings II LLC owned about 1.68% of Powell Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in POWL. Price T Rowe Associates Inc. MD raised its stake in Powell Industries by 108.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,378 shares of the industrial products company's stock valued at $1,414,000 after buying an additional 3,322 shares during the last quarter. Northern Trust Corp raised its stake in shares of Powell Industries by 15.7% in the fourth quarter. Northern Trust Corp now owns 116,823 shares of the industrial products company's stock worth $25,894,000 after purchasing an additional 15,864 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Powell Industries by 28.1% in the fourth quarter. Ameriprise Financial Inc. now owns 45,215 shares of the industrial products company's stock worth $10,022,000 after purchasing an additional 9,923 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Powell Industries by 795.9% in the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company's stock worth $18,135,000 after purchasing an additional 72,686 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in shares of Powell Industries in the fourth quarter worth about $655,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of the business'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 completion of the transaction, the executive vice president directly owned 28,900 shares of the company's stock, valued at approximately $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the business'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 $1,426,476.25. Following the completion of the transaction, the chief executive officer directly owned 147,471 shares of the company's stock, valued at $31,050,019.05. The trade was a 4.39% 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 worth $4,354,845 over the last three months. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Up 1.5%

Shares of NASDAQ:POWL traded up $4.29 during trading on Wednesday, hitting $281.18. The stock had a trading volume of 131,880 shares, compared to its average volume of 365,380. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.85. The stock has a 50-day simple moving average of $242.66 and a two-hundred day simple moving average of $200.80.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $301.69 million. During the same period last year, the business posted $3.79 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently disclosed 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. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

Powell Industries 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.