Wealth Management Associates Inc. Acquires Shares of 2,466 Powell Industries, Inc. $POWL

Key Points

• Wealth Management Associates Inc. has acquired 2,466 shares of Powell Industries, valued at approximately $420,000, during the first quarter.
• In the same quarter, institutional ownership in Powell Industries increased significantly, with 89.77% of the company's stock now held by institutional investors and hedge funds.
• The company also announced a quarterly dividend of $0.2675 per share, reflecting a yield of 0.4%, to be paid on September 17th to shareholders on record as of August 20th.

Wealth Management Associates Inc. purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,466 shares of the industrial products company's stock, valued at approximately $420,000.

A number of other institutional investors have also recently bought and sold shares of POWL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company's stock valued at $4,841,000 after buying an additional 1,311 shares during the period. Jones Financial Companies Lllp raised its position in Powell Industries by 1,221.0% during the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company's stock worth $236,000 after acquiring an additional 1,282 shares in the last quarter. Scientech Research LLC raised its position in Powell Industries by 155.6% during the first quarter. Scientech Research LLC now owns 5,702 shares of the industrial products company's stock worth $971,000 after acquiring an additional 3,471 shares in the last quarter. New Vernon Capital Holdings II LLC bought a new position in shares of Powell Industries during the 1st quarter worth approximately $34,554,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company's stock worth $1,075,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Transactions at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of the business'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 $825,566.55. Following the transaction, the executive vice president owned 28,900 shares in the company, valued at $6,084,895. The trade was a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Alan Cope sold 6,775 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 $1,426,476.25. Following the transaction, the chief executive officer owned 147,471 shares in the company, valued at approximately $31,050,019.05. The trade was a 4.39% 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. Company insiders own 2.20% of the company's stock.

Powell Industries Price Performance

Shares of POWL opened at $276.98 on Thursday. The firm has a market capitalization of $3.34 billion, a PE ratio of 19.23, a PEG ratio of 1.37 and a beta of 0.85. The company's 50-day moving average is $243.83 and its 200-day moving average is $201.33. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 33.16% and a net margin of 16.22%.The firm 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 firm earned $3.79 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders 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 yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's payout ratio is presently 7.43%.

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.

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