Wealth Management Associates Inc. Acquires New Holdings in 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. acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,466 shares of the industrial products company's stock, valued at approximately $420,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of POWL. Demars Financial Group LLC bought a new position in Powell Industries during the 1st quarter worth about $58,692,000. New Vernon Capital Holdings II LLC purchased a new stake in Powell Industries in the first quarter valued at approximately $34,554,000. GW&K Investment Management LLC purchased a new stake in Powell Industries in the first quarter valued at $27,984,000. RPG Investment Advisory LLC boosted its position in Powell Industries by 342.4% in the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock worth $26,252,000 after purchasing an additional 119,289 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Powell Industries by 22,009.7% during the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock worth $17,436,000 after acquiring an additional 101,905 shares in the last quarter. Institutional investors own 89.77% of the company's stock.

Powell Industries Stock Performance

Shares of NASDAQ:POWL traded down $10.16 during midday trading on Tuesday, reaching $291.89. 77,549 shares of the company's stock traded hands, compared to its average volume of 361,558. The company has a market cap of $3.52 billion, a P/E ratio of 20.25, a PEG ratio of 1.43 and a beta of 0.85. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98. The company has a fifty day simple moving average of $248.46 and a two-hundred day simple moving average of $204.38.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company's revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $3.79 earnings per share. As a group, research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be paid a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend 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%.

Insiders Place Their Bets

In related news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries 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 $825,566.55. Following the transaction, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Birchall sold 3,000 shares of Powell Industries 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 transaction, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,328 shares of company stock valued at $4,158,845 in the last ninety days. 2.20% of the stock is currently owned by corporate 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.