Oppenheimer Asset Management Inc. Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Oppenheimer Asset Management Inc. purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,149 shares of the industrial products company's stock, valued at approximately $536,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ausbil Investment Management Ltd lifted its position in shares of Powell Industries by 55.7% during the 1st quarter. Ausbil Investment Management Ltd now owns 16,185 shares of the industrial products company's stock valued at $2,757,000 after acquiring an additional 5,789 shares during the period. Roman Butler Fullerton & Co. raised its stake in shares of Powell Industries by 47.2% during the first quarter. Roman Butler Fullerton & Co. now owns 3,601 shares of the industrial products company's stock valued at $624,000 after acquiring an additional 1,154 shares during the last quarter. Demars Financial Group LLC acquired a new stake in shares of Powell Industries in the first quarter valued at about $58,692,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Powell Industries by 17.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock worth $330,000 after buying an additional 292 shares during the period. Finally, Liberty Capital Management Inc. increased its holdings in Powell Industries by 8.4% in the first quarter. Liberty Capital Management Inc. now owns 2,756 shares of the industrial products company's stock worth $469,000 after purchasing an additional 214 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,921 shares of the 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 transaction, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the stock in a transaction on Friday, June 27th. The stock was 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 owned 147,471 shares in the company, valued at $31,050,019.05. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,308 shares of company stock valued at $3,574,755. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

POWL traded down $1.03 during trading on Thursday, hitting $217.50. 229,194 shares of the stock traded hands, compared to its average volume of 401,417. Powell Industries, Inc. has a 12-month low of $127.01 and a 12-month high of $364.98. The firm has a market capitalization of $2.63 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.06 and a beta of 0.77. The firm has a 50-day moving average of $185.40 and a 200 day moving average of $198.72.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The firm had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. During the same period in the previous year, the firm earned $2.75 EPS. The business's quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.2675 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.49%. Powell Industries's dividend payout ratio (DPR) is 7.52%.

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.