Powell Industries, Inc. $POWL Shares Acquired by Rossby Financial LCC

Rossby Financial LCC grew its stake in Powell Industries, Inc. (NASDAQ:POWL) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 800 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Rossby Financial LCC’s holdings in Powell Industries were worth $168,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of POWL. New Vernon Capital Holdings II LLC acquired a new stake in Powell Industries during the first quarter valued at approximately $34,554,000. GW&K Investment Management LLC acquired a new stake in shares of Powell Industries during the 1st quarter valued at approximately $27,984,000. RPG Investment Advisory LLC raised its position in shares of Powell Industries by 342.4% during the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company’s stock valued at $26,252,000 after acquiring an additional 119,289 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Powell Industries during the 1st quarter valued at approximately $16,405,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Powell Industries by 137.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 134,946 shares of the industrial products company’s stock valued at $22,985,000 after acquiring an additional 78,163 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In related news, Director John Birchall sold 3,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the sale, the director owned 6,700 shares of the company’s stock, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the sale, the executive vice president directly owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $312.00.

Powell Industries Stock Up 2.7%

POWL opened at $384.26 on Wednesday. The company’s 50-day moving average price is $300.16 and its 200 day moving average price is $235.89. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.79 and a beta of 0.82. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $386.96.

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

Powell Industries Dividend Announcement

The business also recently announced 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 of this dividend was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is currently 7.43%.

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.