Victory Capital Management Inc. Raises Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Victory Capital Management Inc. increased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,333 shares of the industrial products company's stock after purchasing an additional 5,928 shares during the quarter. Victory Capital Management Inc. owned approximately 0.43% of Powell Industries worth $8,914,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of POWL. Sei Investments Co. increased its holdings in Powell Industries by 3.1% in the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after acquiring an additional 85 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Powell Industries during the fourth quarter worth about $465,000. LPL Financial LLC raised its stake in shares of Powell Industries by 18.2% during the fourth quarter. LPL Financial LLC now owns 36,808 shares of the industrial products company's stock worth $8,158,000 after acquiring an additional 5,655 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Powell Industries by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock valued at $152,508,000 after buying an additional 24,997 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Powell Industries by 10.6% in the 4th quarter. JPMorgan Chase & Co. now owns 29,701 shares of the industrial products company's stock worth $6,583,000 after purchasing an additional 2,843 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,921 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the sale, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. This represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the transaction, the chief executive officer directly owned 147,471 shares in the company, valued at approximately $31,050,019.05. This represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,308 shares of company stock worth $3,574,755 in the last 90 days. Company insiders own 2.20% of the company's stock.

Powell Industries Stock Up 3.4%

Shares of NASDAQ:POWL traded up $8.21 during midday trading on Friday, hitting $248.37. 310,881 shares of the stock traded hands, compared to its average volume of 275,197. The business's 50 day moving average is $197.92 and its two-hundred day moving average is $197.10. The stock has a market capitalization of $3.00 billion, a PE ratio of 17.45, a P/E/G ratio of 1.21 and a beta of 0.77. Powell Industries, Inc. has a one year low of $132.41 and a one year high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.47. The business had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The business's revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Wednesday, May 21st. Powell Industries's payout ratio is 7.52%.

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.