Carnegie Capital Asset Management LLC Invests $847,000 in Powell Industries, Inc. (NASDAQ:POWL)

Carnegie Capital Asset Management LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,580 shares of the industrial products company's stock, valued at approximately $847,000. Carnegie Capital Asset Management LLC owned 0.08% of Powell Industries at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in POWL. First Trust Advisors LP acquired a new position in Powell Industries during the 1st quarter worth $7,698,000. FMR LLC grew its holdings in Powell Industries by 1,377.9% during the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company's stock worth $11,490,000 after acquiring an additional 129,219 shares in the last quarter. EAM Investors LLC acquired a new position in Powell Industries during the 4th quarter worth $3,043,000. JPMorgan Chase & Co. boosted its holdings in shares of Powell Industries by 41.4% in the 4th quarter. JPMorgan Chase & Co. now owns 273,290 shares of the industrial products company's stock valued at $9,614,000 after buying an additional 79,981 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Powell Industries by 152.5% in the 4th quarter. Millennium Management LLC now owns 124,105 shares of the industrial products company's stock valued at $4,366,000 after buying an additional 74,955 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total value of $871,900.00. Following the sale, the insider now directly owns 1,688,628 shares in the company, valued at approximately $294,462,950.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Powell Industries news, Director Christopher E. Cragg sold 9,000 shares of the business's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total transaction of $1,396,170.00. Following the sale, the director now directly owns 12,360 shares in the company, valued at approximately $1,917,406.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the sale, the insider now owns 1,688,628 shares in the company, valued at $294,462,950.64. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $4,850,830 in the last ninety days. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Powell Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $1.95 during midday trading on Wednesday, hitting $123.44. The company's stock had a trading volume of 164,949 shares, compared to its average volume of 322,245. Powell Industries, Inc. has a 1-year low of $38.91 and a 1-year high of $197.87. The firm's fifty day moving average price is $149.40 and its 200-day moving average price is $107.98. The firm has a market cap of $1.48 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.20 and a beta of 0.79.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.00 by $0.98. Powell Industries had a net margin of 10.10% and a return on equity of 22.30%. The business had revenue of $194.00 million during the quarter, compared to analyst estimates of $182.04 million. During the same period in the previous year, the business posted $0.10 EPS. The company's quarterly revenue was up 53.0% on a year-over-year basis. As a group, research analysts predict that Powell Industries, Inc. will post 7.54 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were given a $0.262 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $1.05 annualized dividend and a yield of 0.85%. Powell Industries's dividend payout ratio is presently 16.64%.

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.