Driehaus Capital Management LLC Invests $11.66 Million in Powell Industries, Inc. (NASDAQ:POWL)

Driehaus Capital Management LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, Holdings Channel reports. The institutional investor bought 81,295 shares of the industrial products company’s stock, valued at approximately $11,658,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Transform Wealth LLC grew its stake in shares of Powell Industries by 25,920.5% during the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after purchasing an additional 1,667,728 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Powell Industries in the 2nd quarter valued at $6,713,000. American Century Companies Inc. raised its position in shares of Powell Industries by 15.0% during the second 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 period. Allspring Global Investments Holdings LLC raised its holdings in Powell Industries by 471.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after buying an additional 25,789 shares during the period. Finally, Spirepoint Private Client LLC bought a new position in Powell Industries in the first quarter valued at approximately $3,533,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Price Performance

POWL opened at $219.09 on Monday. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 1.30 and a beta of 0.87. The business’s 50-day moving average price is $168.46 and its two-hundred day moving average price is $158.66. Powell Industries, Inc. has a 1 year low of $72.51 and a 1 year high of $223.96.

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, beating analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same quarter last year, the firm earned $1.52 EPS. Powell Industries’s revenue for the quarter was up 49.8% compared to the same quarter last year. Sell-side analysts anticipate 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 given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares of the company’s stock, valued at $1,770,560. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,100 shares of company stock worth $7,563,552. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries 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.