Strs Ohio Buys Shares of 1,700 Powell Industries, Inc. $POWL

Key Points

• Strs Ohio has purchased 1,700 shares of Powell Industries, Inc. ($POWL), valued at approximately $290,000, indicating growing institutional interest in the company.
• Insider trading has seen significant activity, with Director John Birchall and CEO Brett Alan Cope selling shares, resulting in a 30.93% and 4.39% decrease in their positions, respectively.
• Powell Industries reported a net margin of 16.22% and earnings per share of $3.96 for the last quarter, surpassing analysts' expectations.

Strs Ohio bought a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,700 shares of the industrial products company's stock, valued at approximately $290,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Powell Industries by 93.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock worth $675,000 after buying an additional 1,858 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Powell Industries by 2.8% in the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock worth $9,465,000 after buying an additional 1,509 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Powell Industries by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock worth $228,000 after buying an additional 137 shares during the last quarter. GAMMA Investing LLC lifted 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 buying an additional 138 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Powell Industries by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock worth $330,000 after buying an additional 292 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In related news, Director John Birchall sold 3,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the transaction, the chief executive officer owned 147,471 shares of the company's stock, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,328 shares of company stock worth $4,158,845 in the last ninety days. 2.20% of the stock is currently owned by insiders.

Powell Industries Trading Down 3.5%

Shares of Powell Industries stock opened at $292.22 on Wednesday. The firm has a fifty day simple moving average of $258.67 and a 200-day simple moving average of $209.86. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $364.98. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.50 and a beta of 0.85.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $301.69 million. During the same period in the previous year, the company earned $3.79 earnings per share. Powell Industries's revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

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

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