Vanguard Group Inc. Boosts Stake in 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. raised its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 697,887 shares of the industrial products company's stock after buying an additional 9,829 shares during the period. Vanguard Group Inc. owned 5.78% of Powell Industries worth $118,871,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its position in shares of Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 99 shares during the period. Two Sigma Investments LP grew its position in shares of Powell Industries by 3.7% during the 4th quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company's stock valued at $644,000 after acquiring an additional 104 shares during the period. Rhumbline Advisers grew its position in shares of Powell Industries by 0.5% during the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock valued at $4,337,000 after acquiring an additional 118 shares during the period. US Bancorp DE grew its position in shares of 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 acquiring an additional 126 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Powell Industries by 0.7% during the 4th quarter. Squarepoint Ops LLC now owns 18,793 shares of the industrial products company's stock valued at $4,165,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Stock Up 0.9%

POWL traded up $2.49 on Wednesday, hitting $275.72. The company's stock had a trading volume of 23,102 shares, compared to its average volume of 373,481. The company's 50 day simple moving average is $227.43 and its 200-day simple moving average is $196.37. The firm has a market cap of $3.33 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 1.28 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 released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million during the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. Powell Industries's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.79 EPS. Equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's dividend payout ratio (DPR) is 7.43%.

Insider Activity at Powell Industries

In related news, CEO Brett Alan Cope sold 6,775 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 $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 approximately $31,050,019.05. This trade represents a 4.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,308 shares of company stock valued at $3,574,755. 2.20% of the stock is owned by insiders.

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.