VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Powell Industries, Inc. $POWL

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,900 shares of the industrial products company’s stock, valued at approximately $610,000.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group boosted its holdings in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 197 shares during the period. AlphaQuest LLC boosted its holdings in shares of Powell Industries by 472.0% in the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 354 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 138 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Powell Industries by 138.0% in the first quarter. SBI Securities Co. Ltd. now owns 614 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 356 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $364.99 on Friday. The stock has a fifty day moving average price of $295.27 and a 200 day moving average price of $232.26. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $367.48. The company has a market cap of $4.41 billion, a PE ratio of 25.35, a P/E/G ratio of 1.63 and a beta of 0.82.

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

Powell Industries Dividend Announcement

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

Insider Buying and Selling at Powell Industries

In other Powell Industries news, Director John Birchall sold 3,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction 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 owned 25,700 shares of the company’s stock, valued at $7,677,618. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

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.