Second Half Financial Partners LLC Buys New Position in Powell Industries, Inc. $POWL

Key Points

• Second Half Financial Partners LLC acquired a new position in Powell Industries, investing approximately $202,000 for 959 shares during the second quarter.
• Insider selling was reported, with EVP Michael William Metcalf selling 3,200 shares for around $955,968, resulting in an 11.07% decrease in his position.
• Powell Industries announced a quarterly dividend of $0.2675 per share, contributing to an annualized yield of 0.4%.

Second Half Financial Partners LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 959 shares of the industrial products company's stock, valued at approximately $202,000.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group raised its holdings in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after buying an additional 108 shares during the period. Harbour Investments Inc. grew its stake 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 purchasing an additional 197 shares in the last quarter. AlphaQuest LLC grew its stake in Powell Industries by 472.0% during the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock valued at $73,000 after purchasing an additional 354 shares in the last quarter. Rossby Financial LCC acquired a new stake in Powell Industries during the 1st quarter valued at approximately $112,000. Finally, GAMMA Investing LLC grew its stake 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 purchasing an additional 138 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the sale, the executive vice president owned 25,700 shares of the company's stock, valued at $7,677,618. The trade was a 11.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Birchall sold 3,000 shares of the business's stock in a transaction on 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 sale, the director directly owned 6,700 shares in the company, valued at $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Powell Industries Price Performance

NASDAQ:POWL opened at $301.06 on Friday. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98. The firm has a market capitalization of $3.63 billion, a P/E ratio of 20.91, a P/E/G ratio of 1.44 and a beta of 0.82. The business has a 50 day simple moving average of $277.41 and a 200 day simple moving average of $221.25.

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 for the quarter, beating the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.79 EPS. Research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's payout ratio is presently 7.43%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Powell Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, Powell Industries has a consensus rating of "Buy" and an average target price of $312.00.

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.

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