Powell Industries, Inc. $POWL Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Powell Industries, Inc. by 19.7% in Q1, owning 121,808 shares valued at approximately $20.7 million.
• Several other institutional investors also enhanced their positions, with notable increases including GAMMA Investing LLC's 22,009.7% rise in shares during the same quarter.
• Powell Industries recently announced a quarterly dividend payment of $0.2675 per share, with an ex-dividend date set for August 20.

Raymond James Financial Inc. lifted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 19.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,808 shares of the industrial products company's stock after purchasing an additional 20,043 shares during the period. Raymond James Financial Inc. owned about 1.01% of Powell Industries worth $20,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new position in Powell Industries in the first quarter valued at $25,000. Harbour Investments Inc. lifted its position in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 197 shares during the last quarter. GAMMA Investing LLC lifted its position in Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock valued at $102,000 after acquiring an additional 138 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Powell Industries by 138.0% in the first quarter. SBI Securities Co. Ltd. now owns 614 shares of the industrial products company's stock valued at $105,000 after acquiring an additional 356 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in Powell Industries in the first quarter valued at $112,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Down 1.9%

POWL traded down $5.11 on Friday, reaching $266.16. The company had a trading volume of 151,563 shares, compared to its average volume of 313,947. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98. The stock has a market capitalization of $3.21 billion, a PE ratio of 18.48, a P/E/G ratio of 1.35 and a beta of 0.81. The stock has a 50-day moving average price of $233.00 and a 200-day moving average price of $197.65.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $301.69 million. During the same period last year, the firm posted $3.79 EPS. Powell Industries's revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts expect 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 will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 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 $1,426,476.25. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of the firm'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 directly owned 28,900 shares in the company, valued at $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. In the last three months, insiders have sold 20,308 shares of company stock valued at $4,354,845. Insiders own 2.20% of the company's stock.

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.