Powell Industries, Inc. (NASDAQ:POWL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Powell Industries, Inc. (NASDAQ:POWL) by 53.9% during the second quarter, Holdings Channel reports. The firm owned 8,086 shares of the industrial products company’s stock after acquiring an additional 2,833 shares during the period. Victory Capital Management Inc.’s holdings in Powell Industries were worth $1,160,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of POWL. GAMMA Investing LLC increased its holdings in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Powell Industries in the second quarter valued at about $47,000. Plato Investment Management Ltd acquired a new position in shares of Powell Industries in the first quarter valued at about $50,000. Diversified Trust Co acquired a new position in shares of Powell Industries in the first quarter valued at about $212,000. Finally, Caxton Associates LP acquired a new stake in Powell Industries during the first quarter worth about $212,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Powell Industries

In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the insider now directly owns 11,066 shares of the company’s stock, valued at $1,770,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the insider now directly owns 11,066 shares of the company’s stock, valued at $1,770,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the firm’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 value of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,100 shares of company stock valued at $2,224,552. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Up 6.7 %

Powell Industries stock opened at $192.77 on Friday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. Powell Industries, Inc. has a 52 week low of $72.51 and a 52 week high of $209.14. The business’s 50-day moving average price is $158.19 and its 200 day moving average price is $156.28.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate 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 return on equity of 33.09% and a net margin of 13.77%. Powell Industries’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. Equities analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is currently 12.59%.

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.