Caxton Associates LP Purchases 5,997 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Caxton Associates LP grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 403.0% in the second quarter, HoldingsChannel.com reports. The fund owned 7,485 shares of the industrial products company’s stock after acquiring an additional 5,997 shares during the quarter. Caxton Associates LP’s holdings in Powell Industries were worth $1,073,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Powell Industries by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,898 shares of the industrial products company’s stock worth $6,621,000 after purchasing an additional 1,033 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $1,403,000. Quadrature Capital Ltd acquired a new position in shares of Powell Industries during the 1st quarter valued at $1,927,000. Commonwealth Equity Services LLC bought a new position in Powell Industries during the first quarter worth $1,628,000. Finally, FORA Capital LLC acquired a new stake in Powell Industries in the first quarter worth $1,000,000. 89.77% of the stock is owned by institutional investors.

Powell Industries Stock Performance

POWL stock opened at $215.76 on Friday. Powell Industries, Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $223.96. The stock’s 50 day simple moving average is $166.76 and its 200 day simple moving average is $158.27. The company has a market cap of $2.59 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The company had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same period in the prior year, the firm earned $1.52 earnings per share. Powell Industries’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities analysts predict that Powell Industries, Inc. will post 12.01 earnings per share for the current year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the company’s 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 sale, the chief executive officer now directly owns 148,737 shares of the company’s stock, valued at approximately $21,166,762.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The disclosure for this sale can be found here. Insiders sold a total of 38,100 shares of company stock valued at $7,563,552 over the last three months. 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.