Venture Visionary Partners LLC Takes Position in Powell Industries, Inc. $POWL

Key Points

• Venture Visionary Partners LLC acquired a new position in Powell Industries, purchasing 2,205 shares valued at approximately $376,000 in the first quarter, indicating growing institutional interest in the company.
• Powell Industries reported $3.96 EPS for the latest quarter, exceeding estimates, though revenue of $286.27 million fell short of the expected $301.69 million.
• The company recently declared a quarterly dividend of $0.2675 per share, reflecting an annualized payout of $1.07 and a dividend yield of 0.4%.

Venture Visionary Partners LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,205 shares of the industrial products company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of POWL. Versant Capital Management Inc acquired a new position in Powell Industries in the first quarter worth approximately $25,000. Brooklyn Investment Group boosted its position in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 108 shares during the period. Harbour Investments Inc. lifted its position in 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 period. GeoWealth Management LLC raised its stake in Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Powell Industries by 29.8% during 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 in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Price Performance

Shares of NASDAQ:POWL traded up $1.19 during midday trading on Wednesday, reaching $274.42. The company's stock had a trading volume of 74,629 shares, compared to its average volume of 373,756. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The company has a market capitalization of $3.31 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.28 and a beta of 0.81. The business's fifty day simple moving average is $227.43 and its 200-day simple moving average is $196.37.

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

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is currently 7.43%.

Insider Buying and Selling

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was 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 $31,050,019.05. The trade was a 4.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was 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 in the company, valued at $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,308 shares of company stock worth $3,574,755. 2.20% of the stock is owned by insiders.

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.