Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,568 shares of the industrial products company's stock after purchasing an additional 1,509 shares during the period. Principal Financial Group Inc. owned 0.46% of Powell Industries worth $9,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Demars Financial Group LLC acquired a new stake in Powell Industries in the first quarter valued at approximately $58,692,000. Invesco Ltd. boosted its stake in Powell Industries by 134.0% in the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock valued at $58,768,000 after acquiring an additional 151,850 shares in the last quarter. GAMMA Investing LLC boosted its stake in Powell Industries by 22,009.7% in the first quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after acquiring an additional 101,905 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Powell Industries in the fourth quarter valued at approximately $22,556,000. Finally, BNP Paribas Financial Markets boosted its stake in Powell Industries by 795.9% in the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company's stock valued at $18,135,000 after acquiring an additional 72,686 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Trading Down 2.8%

Shares of NASDAQ:POWL traded down $6.72 on Friday, hitting $229.79. 208,612 shares of the company were exchanged, compared to its average volume of 415,497. Powell Industries, Inc. has a 1-year low of $127.01 and a 1-year high of $364.98. The stock's 50 day moving average price is $192.11 and its 200 day moving average price is $197.18. The firm has a market capitalization of $2.77 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.10 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. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The business had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $0.2675 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.47%. Powell Industries's payout ratio is 7.52%.

Insiders Place Their Bets

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 owned 147,471 shares of the company's stock, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock valued at $3,574,755 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

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.