Powell Industries, Inc. (NASDAQ:POWL) Position Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,285 shares of the industrial products company’s stock after purchasing an additional 1,332 shares during the period. Public Sector Pension Investment Board owned 0.17% of Powell Industries worth $2,909,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Powell Industries during the second quarter worth about $72,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $149,000. Seven Eight Capital LP bought a new stake in shares of Powell Industries in the 2nd quarter worth approximately $376,000. WINTON GROUP Ltd boosted its position in Powell Industries by 2.9% during the 2nd quarter. WINTON GROUP Ltd now owns 6,224 shares of the industrial products company’s stock valued at $893,000 after purchasing an additional 174 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Powell Industries during the 2nd quarter worth $6,713,000. 89.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Powell Industries Stock Up 1.5 %

Shares of NASDAQ:POWL opened at $219.09 on Friday. The company’s 50-day moving average price is $168.46 and its 200 day moving average price is $158.74. The company has a market cap of $2.63 billion, a PE ratio of 26.02, a P/E/G ratio of 1.30 and a beta of 0.87. Powell Industries, Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $223.96.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. The company had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, equities analysts anticipate that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.48%. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the company’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 of the company’s stock, valued at approximately $21,166,762.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,100 shares of company stock valued at $7,563,552. 2.20% of the stock is currently owned by corporate insiders.

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.