Powell Industries, Inc. $POWL Shares Purchased by Private Trust Co. NA

Private Trust Co. NA increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 113.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,279 shares of the industrial products company’s stock after acquiring an additional 4,407 shares during the quarter. Private Trust Co. NA’s holdings in Powell Industries were worth $1,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Powell Industries by 5.6% in the 2nd quarter. WCM Investment Management LLC now owns 66,585 shares of the industrial products company’s stock valued at $14,177,000 after buying an additional 3,536 shares during the period. Harbour Investments Inc. grew its stake in Powell Industries by 257.5% during the 2nd quarter. Harbour Investments Inc. now owns 740 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 533 shares in the last quarter. Vest Financial LLC boosted its position in shares of Powell Industries by 159.1% during the 2nd quarter. Vest Financial LLC now owns 12,434 shares of the industrial products company’s stock worth $2,617,000 after acquiring an additional 7,635 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Powell Industries by 1,010.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock worth $8,949,000 after acquiring an additional 38,769 shares in the last quarter. Finally, Second Half Financial Partners LLC acquired a new position in shares of Powell Industries during the 2nd quarter worth about $202,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Down 2.2%

Powell Industries stock opened at $330.71 on Friday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.62 and a beta of 0.82. The stock has a 50 day moving average of $286.62 and a two-hundred day moving average of $226.13. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $286.27 million during the quarter, compared to the consensus estimate of $301.69 million. During the same period in the prior year, the business posted $3.79 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.43%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, Powell Industries currently has an average rating of “Buy” and a consensus target price of $312.00.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at $7,677,618. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

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.