Oppenheimer & Co. Inc. Raises Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Oppenheimer & Co. Inc. boosted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 59.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,138 shares of the industrial products company's stock after purchasing an additional 2,665 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.06% of Powell Industries worth $1,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of POWL. Sei Investments Co. raised its holdings in shares of Powell Industries by 3.1% in the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after acquiring an additional 85 shares during the last quarter. Freedom Investment Management Inc. grew its stake in shares of Powell Industries by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock worth $537,000 after acquiring an additional 87 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Powell Industries by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company's stock valued at $217,000 after purchasing an additional 90 shares during the period. GeoWealth Management LLC boosted its holdings in shares of Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares during the period. Finally, Prestige Wealth Management Group LLC grew its holdings in Powell Industries by 100.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after buying an additional 100 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 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 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. This trade represents a 4.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have 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

Shares of Powell Industries stock traded up $7.55 during trading on Wednesday, hitting $217.59. 186,051 shares of the company's stock traded hands, compared to its average volume of 419,455. The business has a 50-day simple moving average of $184.52 and a 200-day simple moving average of $198.58. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The stock has a market capitalization of $2.63 billion, a P/E ratio of 15.28, a PEG ratio of 1.06 and a beta of 0.77.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping the consensus estimate of $3.34 by $0.47. The firm had revenue of $278.63 million for the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 earnings per share. On average, equities analysts predict 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 was paid on Wednesday, June 18th. Investors 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 dividend on an annualized basis and a dividend yield of 0.49%. Powell Industries's dividend payout ratio is 7.52%.

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.