Dark Forest Capital Management LP Makes New $282,000 Investment in Powell Industries, Inc. (NASDAQ:POWL)

Dark Forest Capital Management LP purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,969 shares of the industrial products company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transform Wealth LLC increased its holdings in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after purchasing an additional 17,177 shares in the last quarter. American Century Companies Inc. raised its position in shares of Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after buying an additional 1,015 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Powell Industries by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,898 shares of the industrial products company’s stock valued at $6,621,000 after buying an additional 1,033 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Trading Up 1.5 %

NASDAQ:POWL opened at $219.09 on Monday. Powell Industries, Inc. has a 12-month low of $72.51 and a 12-month high of $223.96. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 1.30 and a beta of 0.87. The company’s 50-day moving average is $168.46 and its two-hundred day moving average is $158.66.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. The firm had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. Powell Industries’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. On average, equities research analysts forecast that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.48%. Powell Industries’s payout ratio is currently 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares in the company, valued at approximately $145,704,513.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,100 shares of company stock worth $7,563,552. 2.20% of the stock is owned by company insiders.

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.