Daiwa Securities Group Inc. Acquires Shares of 3,163 Powell Industries, Inc. (NASDAQ:POWL)

Daiwa Securities Group Inc. bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the first quarter, Holdings Channel.com reports. The fund bought 3,163 shares of the industrial products company’s stock, valued at approximately $450,000.

Other large investors have also added to or reduced their stakes in the company. AJOVista LLC acquired a new stake in shares of Powell Industries during the fourth quarter worth $29,000. Invst LLC acquired a new stake in Powell Industries in the 4th quarter worth about $161,000. Private Trust Co. NA acquired a new position in shares of Powell Industries during the 4th quarter worth approximately $192,000. Cornerstone Investment Partners LLC bought a new position in shares of Powell Industries during the fourth quarter worth approximately $206,000. Finally, Diversified Trust Co bought a new position in shares of Powell Industries during the first quarter worth approximately $212,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 1.8 %

POWL stock opened at $142.66 on Friday. Powell Industries, Inc. has a 52 week low of $58.81 and a 52 week high of $209.14. The business has a 50-day simple moving average of $164.22 and a 200 day simple moving average of $140.73. The company has a market cap of $1.71 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $201.45 million. During the same quarter last year, the business posted $0.70 EPS. The firm’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, analysts anticipate that Powell Industries, Inc. will post 9.04 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.74%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, May 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 5,800 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.52, for a total value of $913,616.00. Following the completion of the transaction, the executive vice president now directly owns 37,400 shares in the company, valued at approximately $5,891,248. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Thomas W. Powell sold 20,000 shares of Powell Industries stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the sale, the insider now directly owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $157.52, for a total value of $913,616.00. Following the completion of the transaction, the executive vice president now directly owns 37,400 shares of the company’s stock, valued at approximately $5,891,248. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,900 shares of company stock valued at $6,080,681. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th.

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.