Range Financial Group LLC Buys 2,155 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Range Financial Group LLC raised its holdings in shares of Powell Industries, Inc. (NASDAQ:POWLFree Report) by 18.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,102 shares of the industrial products company’s stock after acquiring an additional 2,155 shares during the quarter. Powell Industries makes up about 1.0% of Range Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. Range Financial Group LLC owned about 0.12% of Powell Industries worth $2,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Virtu Financial LLC bought a new stake in Powell Industries during the fourth quarter valued at about $214,000. Oxford Asset Management LLP purchased a new position in Powell Industries in the fourth quarter worth about $229,000. Dynamic Technology Lab Private Ltd purchased a new position in Powell Industries in the fourth quarter worth about $1,635,000. Navellier & Associates Inc. grew its position in Powell Industries by 368.6% in the fourth quarter. Navellier & Associates Inc. now owns 19,062 shares of the industrial products company’s stock worth $1,685,000 after acquiring an additional 14,994 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in Powell Industries by 1.0% in the fourth quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company’s stock worth $3,260,000 after acquiring an additional 350 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Powell Industries Stock Down 1.7 %

POWL traded down $2.56 on Monday, hitting $151.39. The company had a trading volume of 220,894 shares, compared to its average volume of 336,845. Powell Industries, Inc. has a 12-month low of $57.78 and a 12-month high of $209.14. The business’s fifty day simple moving average is $163.16 and its 200 day simple moving average is $135.95. The company has a market cap of $1.82 billion, a PE ratio of 17.99, a PEG ratio of 1.24 and a beta of 0.92.

Powell Industries (NASDAQ:POWLGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The business had revenue of $255.10 million during the quarter, compared to analyst estimates of $201.45 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, analysts anticipate that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 14th. This is an increase from Powell Industries’s previous quarterly dividend of $0.26. Powell Industries’s payout ratio is currently 12.59%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 20,000 shares of Powell Industries 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 completion of the sale, the insider now owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John Birchall sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $200.65, for a total value of $220,715.00. Following the completion of the transaction, the director now owns 8,066 shares of the company’s stock, valued at $1,618,442.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the completion of the transaction, the insider now directly owns 1,668,628 shares of the company’s stock, valued at approximately $343,520,446.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,900 shares of company stock valued at $6,080,681. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Get Our Latest Report on Powell Industries

About Powell Industries

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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