RPG Investment Advisory LLC Has $26.25 Million Stake in Powell Industries, Inc. $POWL

Key Points

• RPG Investment Advisory LLC significantly increased its stake in Powell Industries, Inc. by 342.4% in the first quarter, owning over 154,000 shares, which represents about 1.9% of its portfolio.
• Recent insider transactions showed executives selling substantial shares of Powell Industries, with EVP Michael William Metcalf selling nearly 4,000 shares and CEO Brett Alan Cope selling about 6,775 shares, indicating a decrease in their positions.
• Powell Industries announced a quarterly dividend of $0.2675 per share, reflecting a 0.4% yield and a low dividend payout ratio of 7.43%.

RPG Investment Advisory LLC increased its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 342.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 154,126 shares of the industrial products company's stock after purchasing an additional 119,289 shares during the period. Powell Industries comprises about 1.9% of RPG Investment Advisory LLC's investment portfolio, making the stock its 22nd biggest holding. RPG Investment Advisory LLC owned 1.28% of Powell Industries worth $26,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Versant Capital Management Inc bought a new stake in Powell Industries during the first quarter valued at about $25,000. Brooklyn Investment Group increased its position in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after buying an additional 108 shares during the period. Harbour Investments Inc. boosted its position in shares of 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 period. GeoWealth Management LLC boosted its position in shares of Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 99 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Powell Industries by 29.8% in the first 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 last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Brett Alan Cope sold 6,775 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 147,471 shares of the company's stock, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. 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 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 $825,566.55. Following the completion of the sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at $6,084,895. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,308 shares of company stock valued at $3,574,755. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Stock Down 0.3%

NASDAQ POWL traded down $0.93 during midday trading on Wednesday, hitting $272.30. The company had a trading volume of 136,340 shares, compared to its average volume of 374,128. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.28 and a beta of 0.81. The firm has a fifty day simple moving average of $227.43 and a two-hundred day simple moving average of $196.37.

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

Powell Industries Announces Dividend

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 paid 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 yield of 0.4%. Powell Industries's payout ratio is currently 7.43%.

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.