Powell Industries, Inc. $POWL is Engine NO. 1 LLC's 2nd Largest Position

Key Points

• Engine NO. 1 LLC increased its holdings in Powell Industries, Inc. by 46.0%, owning a total of 72,000 shares, making it the firm's second largest investment at approximately $12.26 million.
• CEO Brett Alan Cope and EVP Michael William Metcalf both sold shares of the company, decreasing their ownership by 4.39% and 11.95% respectively, which raises concerns about insider confidence.
• Powell Industries reported earnings of $3.96 per share for the last quarter, exceeding expectations, but revenue decreased 0.7% year-over-year, reflecting some financial challenges.

Engine NO. 1 LLC lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 46.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,000 shares of the industrial products company's stock after purchasing an additional 22,700 shares during the period. Powell Industries comprises approximately 15.7% of Engine NO. 1 LLC's holdings, making the stock its 2nd biggest position. Engine NO. 1 LLC owned approximately 0.60% of Powell Industries worth $12,264,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in POWL. Versant Capital Management Inc bought a new position in shares of Powell Industries in the 1st quarter worth approximately $25,000. Brooklyn Investment Group raised its stake in Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after acquiring an additional 108 shares during the period. Harbour Investments Inc. raised its stake in Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock worth $35,000 after acquiring an additional 197 shares during the period. AlphaQuest LLC raised its stake in Powell Industries by 472.0% during the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock worth $73,000 after acquiring an additional 354 shares during the period. Finally, GAMMA Investing LLC raised its stake in Powell Industries by 29.8% during the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after acquiring an additional 138 shares during the period. Institutional investors own 89.77% of the company's stock.

Powell Industries Trading Up 3.0%

NASDAQ POWL traded up $7.69 on Thursday, reaching $264.84. 39,532 shares of the stock were exchanged, compared to its average volume of 368,492. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $364.98. The firm has a market capitalization of $3.20 billion, a PE ratio of 18.40, a PEG ratio of 1.32 and a beta of 0.85. The company's 50-day simple moving average is $237.55 and its two-hundred day simple moving average is $198.69.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company had revenue of $286.27 million for the quarter, compared to analysts' expectations of $301.69 million. During the same quarter last year, the business earned $3.79 EPS. The firm's revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid 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 yield of 0.4%. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, Director John Birchall sold 3,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 6,700 shares of the company's stock, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 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 transaction of $1,426,476.25. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,308 shares of company stock worth $4,354,845. Company insiders own 2.20% of the company's stock.

Powell Industries Company 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.