Powell Industries, Inc. $POWL Shares Acquired 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. boosted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,808 shares of the industrial products company's stock after buying an additional 20,043 shares during the period. Raymond James Financial Inc. owned approximately 1.01% of Powell Industries worth $20,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in Powell Industries during the 1st quarter valued at about $25,000. Harbour Investments Inc. increased its position 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 valued at $35,000 after buying an additional 197 shares in the last quarter. Rossby Financial LCC acquired a new position in Powell Industries during the 1st quarter valued at about $112,000. GAMMA Investing LLC increased its position in 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. Finally, SBI Securities Co. Ltd. increased its position in Powell Industries by 138.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 614 shares of the industrial products company's stock valued at $105,000 after buying an additional 356 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

NASDAQ:POWL traded down $5.11 during mid-day trading on Monday, hitting $266.16. 151,563 shares of the company's stock traded hands, compared to its average volume of 301,615. The company has a fifty day moving average of $234.71 and a 200 day moving average of $197.82. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98. The company has a market capitalization of $3.21 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.32 and a beta of 0.85.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.79 EPS. On average, research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Powell Industries's dividend payout ratio is currently 7.43%.

Insider Activity

In other news, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction dated 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. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Birchall sold 3,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares in the company, valued at $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,308 shares of company stock valued at $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.