The Manufacturers Life Insurance Company Has $759,000 Position in Powell Industries, Inc. (NASDAQ:POWL)

The Manufacturers Life Insurance Company raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 2.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,294 shares of the industrial products company’s stock after buying an additional 151 shares during the period. The Manufacturers Life Insurance Company’s holdings in Powell Industries were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Powell Industries in the second quarter valued at about $1,403,000. Quadrature Capital Ltd bought a new stake in Powell Industries during the first quarter worth about $1,927,000. Commonwealth Equity Services LLC bought a new stake in Powell Industries during the first quarter worth about $1,628,000. FORA Capital LLC bought a new stake in Powell Industries during the first quarter worth about $1,000,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Powell Industries by 471.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after purchasing an additional 25,789 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Friday, October 4th.

Insider Transactions at Powell Industries

In other news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the sale, the insider now owns 11,066 shares of the company’s stock, valued at $1,770,560. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the insider now directly owns 11,066 shares in the company, valued at approximately $1,770,560. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the transaction, the chief executive officer now owns 145,987 shares in the company, valued at approximately $23,711,208.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,899 shares of company stock valued at $14,131,934 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $266.48 on Tuesday. The firm has a market cap of $3.19 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88. The company has a 50 day simple moving average of $190.03 and a 200 day simple moving average of $166.21. Powell Industries, Inc. has a 1 year low of $72.51 and a 1 year high of $268.52.

Powell Industries (NASDAQ:POWL) last released its earnings results 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 business had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company’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 posted $1.52 EPS. As a group, research analysts anticipate that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio is presently 12.59%.

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.