Bayesian Capital Management LP Purchases New Stake in Powell Industries, Inc. (NASDAQ:POWL)

Bayesian Capital Management LP purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the first quarter, Holdings Channel reports. The firm purchased 8,619 shares of the industrial products company’s stock, valued at approximately $1,226,000.

Several other institutional investors have also added to or reduced their stakes in POWL. AJOVista LLC bought a new position in Powell Industries in the 4th quarter worth $29,000. Invst LLC purchased a new stake in shares of Powell Industries in the 4th quarter worth about $161,000. Private Trust Co. NA purchased a new stake in Powell Industries during the 4th quarter valued at about $192,000. Cornerstone Investment Partners LLC purchased a new stake in Powell Industries during the 4th quarter valued at about $206,000. Finally, Diversified Trust Co purchased a new stake in Powell Industries during the 1st quarter valued at about $212,000. 89.77% of the stock is currently owned by institutional investors.

Insider Activity at Powell Industries

In related news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the transaction, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Powell Industries 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 transaction 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 $21,166,762.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the sale, the insider now directly owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The disclosure for this sale can be found here. Insiders have sold a total of 34,650 shares of company stock worth $6,472,034 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries Stock Up 33.0 %

POWL opened at $177.24 on Wednesday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.09 and a beta of 0.88. The firm has a 50 day moving average price of $157.22 and a 200-day moving average price of $146.27. Powell Industries, Inc. has a twelve month low of $60.44 and a twelve month high of $209.14.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data 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 the consensus estimate of $222.18 million. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. As a group, analysts expect that Powell Industries, Inc. will post 9.04 earnings per share for the current year.

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.