Principal Financial Group Inc. Raises Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. lifted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in Powell Industries by 93.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 1,858 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Powell Industries by 11.4% during the 1st quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock valued at $228,000 after buying an additional 137 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Powell Industries by 29.8% during the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock valued at $102,000 after buying an additional 138 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Powell Industries by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company's stock valued at $20,942,000 after acquiring an additional 637 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Powell Industries by 17.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock worth $330,000 after acquiring an additional 292 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Up 8.7%

NASDAQ:POWL traded up $18.91 during trading hours on Thursday, hitting $236.51. 496,345 shares of the stock traded hands, compared to its average volume of 417,068. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.77. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The stock has a 50 day moving average price of $190.94 and a 200 day moving average price of $197.12.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, beating 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 firm had revenue of $278.63 million for the quarter, compared to the consensus estimate of $282.68 million. During the same period last year, the firm earned $2.75 EPS. The company's revenue was up 9.2% on a year-over-year basis. Equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a $0.2675 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.45%. Powell Industries's payout ratio is 7.52%.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,921 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was 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 $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock worth $3,574,755 over the last 90 days. Company insiders own 2.20% of the company's stock.

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.