Vanguard Group Inc. Buys 9,829 Shares of Powell Industries, Inc. $POWL

Key Points

• Vanguard Group Inc. increased its stake in Powell Industries by 1.4%, owning approximately 5.78% of the company, valued at $118.87 million.
• Insider selling was noted with EVP Michael Metcalf and CEO Brett Cope selling shares, reducing their ownership by 11.95% and 4.39%, respectively.
• Powell Industries declared a quarterly dividend of $0.2675 per share, with the ex-dividend date set for August 20th, which reflects an annualized payout ratio of 7.43%.

Vanguard Group Inc. lifted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 697,887 shares of the industrial products company's stock after purchasing an additional 9,829 shares during the period. Vanguard Group Inc. owned about 5.78% of Powell Industries worth $118,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Powell Industries by 93.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock worth $675,000 after purchasing an additional 1,858 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Powell Industries by 2.8% in the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock worth $9,465,000 after purchasing an additional 1,509 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Powell Industries by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock worth $228,000 after purchasing an additional 137 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after purchasing an additional 138 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Powell Industries by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock worth $330,000 after purchasing an additional 292 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $1.14 during midday trading on Wednesday, reaching $274.37. The stock had a trading volume of 233,658 shares, compared to its average volume of 310,983. The stock has a 50-day moving average of $229.33 and a 200-day moving average of $196.91. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.81. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98.

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 analysts' consensus estimates of $3.73 by $0.23. The firm had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.79 earnings per share. As a group, analysts forecast that Powell Industries, Inc. will post 13.71 EPS 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. Investors of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. 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 currently 7.43%.

Insider Buying and Selling

In related news, Director John Birchall sold 3,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,308 shares of company stock worth $4,354,845. 2.20% of the stock is owned by insiders.

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.