PFG Advisors Purchases Shares of 2,883 Powell Industries, Inc. (NASDAQ:POWL)

PFG Advisors purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,883 shares of the industrial products company’s stock, valued at approximately $410,000.

Several other hedge funds have also added to or reduced their stakes in the business. Texas Permanent School Fund Corp lifted its holdings in Powell Industries by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock valued at $1,148,000 after purchasing an additional 175 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Powell Industries during the first quarter worth $226,000. FORA Capital LLC acquired a new stake in shares of Powell Industries during the first quarter worth $1,000,000. Daiwa Securities Group Inc. acquired a new stake in shares of Powell Industries during the first quarter worth $450,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Powell Industries during the first quarter worth $896,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Katheryn Baucom Curtis sold 5,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $165.79, for a total value of $828,950.00. Following the transaction, the director now owns 5,260 shares in the company, valued at $872,055.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Powell Industries news, Director Katheryn Baucom Curtis sold 5,000 shares of Powell Industries stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $165.79, for a total value of $828,950.00. Following the transaction, the director now owns 5,260 shares in the company, valued at $872,055.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated 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 transaction, the chief executive officer now owns 148,737 shares in the company, valued at approximately $21,166,762.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,650 shares of company stock worth $6,472,034. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 0.4 %

Shares of POWL traded down $0.54 during midday trading on Friday, reaching $142.12. 272,838 shares of the stock were exchanged, compared to its average volume of 306,462. Powell Industries, Inc. has a twelve month low of $58.81 and a twelve month high of $209.14. The company has a market cap of $1.70 billion, a P/E ratio of 16.88, a PEG ratio of 1.13 and a beta of 0.88. The stock’s 50 day simple moving average is $163.87 and its 200 day simple moving average is $141.10.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The company had revenue of $255.10 million during the quarter, compared to the consensus estimate of $201.45 million. During the same quarter last year, the firm earned $0.70 earnings per share. The company’s revenue was up 48.8% on a year-over-year basis. As a group, analysts predict that Powell Industries, Inc. will post 9.04 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th were given a $0.265 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Wall Street Analysts Forecast Growth

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

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.