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

Highland Capital Management LLC purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 960 shares of the industrial products company’s stock, valued at approximately $213,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after buying an additional 79 shares during the period. UMB Bank n.a. raised its position in Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after buying an additional 191 shares during the period. Picton Mahoney Asset Management acquired a new position in Powell Industries during the second quarter valued at $47,000. Quarry LP acquired a new position in Powell Industries during the second quarter valued at $48,000. Finally, Plato Investment Management Ltd acquired a new position in Powell Industries during the first quarter valued at $50,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd.

Powell Industries Price Performance

Shares of POWL stock opened at $254.31 on Monday. Powell Industries, Inc. has a fifty-two week low of $72.80 and a fifty-two week high of $284.45. The stock’s 50-day moving average is $208.66 and its two-hundred day moving average is $174.51. The firm has a market cap of $3.05 billion, a P/E ratio of 30.20, a PEG ratio of 1.53 and a beta of 0.88.

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 the consensus estimate 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 posted $1.52 EPS. The business’s revenue was up 49.8% compared to the same quarter last year. As a group, research analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Announces Dividend

The business 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 0.42%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio is 12.59%.

Insider Activity

In other news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total transaction of $446,655.00. Following the transaction, the chief executive officer now owns 145,987 shares of the company’s stock, valued at approximately $23,711,208.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated 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 directly owns 145,987 shares in the company, valued at approximately $23,711,208.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,350 shares of company stock valued at $14,774,341. Insiders own 2.20% of the company’s stock.

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.