Russell Investments Group Ltd. Acquires 4,295 Shares of 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. grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 78.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,741 shares of the industrial products company's stock after acquiring an additional 4,295 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Powell Industries worth $1,659,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of Powell Industries during the first quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings 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 worth $35,000 after purchasing an additional 197 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 138 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings 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 in the last quarter. Finally, Rossby Financial LCC bought a new stake in Powell Industries in the first quarter valued at $112,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries 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 completion of the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $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 available through the SEC website. Also, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction dated Tuesday, August 26th. The stock was 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 of the company's stock, valued at approximately $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,308 shares of company stock worth $4,354,845. Corporate insiders own 2.20% of the company's stock.

Powell Industries Price Performance

NASDAQ:POWL traded down $5.11 during trading hours on Friday, hitting $266.16. The company had a trading volume of 151,563 shares, compared to its average volume of 313,947. The company has a market capitalization of $3.21 billion, a PE ratio of 18.48, a price-to-earnings-growth 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, Inc. has a 52 week low of $146.02 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating 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 business had revenue of $286.27 million for the quarter, compared to analysts' expectations of $301.69 million. During the same quarter in the previous year, the business posted $3.79 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued 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 payout ratio is 7.43%.

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.