Russell Investments Group Ltd. Has $1.66 Million Stake in Powell Industries, Inc. $POWL

Key Points

• Russell Investments Group Ltd. increased its stake in Powell Industries by 78.9%, acquiring 4,295 additional shares, bringing its total holdings to approximately 9,741 shares valued at $1.66 million.
• Powell Industries reported earnings per share (EPS) of $3.96 for the last quarter, surpassing analyst expectations of $3.73, although revenue decreased by 0.7% year-over-year to $286.27 million.
• The company declared a quarterly dividend of $0.2675 per share, with an annualized yield of 0.4%, set to be paid on September 17th.

Russell Investments Group Ltd. lifted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 78.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,741 shares of the industrial products company's stock after buying an additional 4,295 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Powell Industries worth $1,659,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in POWL. Public Sector Pension Investment Board raised its holdings in shares of Powell Industries by 28.4% during the first quarter. Public Sector Pension Investment Board now owns 29,865 shares of the industrial products company's stock worth $5,087,000 after acquiring an additional 6,604 shares during the period. Independent Advisor Alliance raised its stake in shares of Powell Industries by 9.8% in the 1st quarter. Independent Advisor Alliance now owns 21,997 shares of the industrial products company's stock valued at $3,747,000 after purchasing an additional 1,955 shares during the period. Invesco Ltd. lifted its holdings in shares of Powell Industries by 4.1% in the first quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock valued at $47,008,000 after purchasing an additional 10,840 shares in the last quarter. Cynosure Group LLC lifted its holdings in shares of Powell Industries by 83.3% in the first quarter. Cynosure Group LLC now owns 2,172 shares of the industrial products company's stock valued at $370,000 after purchasing an additional 987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Powell Industries by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,800 shares of the industrial products company's stock worth $16,147,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Stock Performance

POWL traded down $5.11 during trading on Monday, reaching $266.16. 151,563 shares of the stock were exchanged, compared to its average volume of 301,615. The stock has a market cap of $3.21 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85. The stock's 50 day moving average price is $234.71 and its two-hundred day moving average price is $197.82. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98.

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

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio is presently 7.43%.

Insiders Place Their Bets

In related news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries 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 $825,566.55. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Birchall sold 3,000 shares of the firm's 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 sale, the director directly owned 6,700 shares in the company, valued at $1,742,201. This trade represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,308 shares of company stock worth $4,354,845 over the last ninety days. Corporate 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.