Principal Financial Group Inc. Sells 607 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. trimmed its stake in Powell Industries, Inc. (NASDAQ:POWLFree Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,774 shares of the industrial products company’s stock after selling 607 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Powell Industries worth $4,577,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AJOVista LLC bought a new position in Powell Industries in the fourth quarter valued at approximately $29,000. Covestor Ltd grew its stake in Powell Industries by 121.1% in the third quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 436 shares in the last quarter. Invst LLC bought a new position in Powell Industries in the fourth quarter valued at approximately $161,000. Private Trust Co. NA acquired a new stake in shares of Powell Industries in the fourth quarter valued at approximately $192,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Powell Industries in the fourth quarter valued at approximately $206,000. 89.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Katheryn Baucom Curtis sold 5,000 shares of Powell Industries stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $165.79, for a total transaction of $828,950.00. Following the completion of the sale, the director now directly owns 5,260 shares of the company’s stock, valued at approximately $872,055.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Up 0.6 %

POWL opened at $205.95 on Friday. Powell Industries, Inc. has a 12-month low of $56.05 and a 12-month high of $209.14. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.63 and a beta of 0.79. The business has a 50 day moving average of $153.99 and a 200-day moving average of $126.22.

Powell Industries (NASDAQ:POWLGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.86. The business had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. As a group, analysts expect that Powell Industries, Inc. will post 9.04 earnings per share for the current year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.265 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, May 14th. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Wall Street Analysts Forecast Growth

Separately, cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

Read Our Latest Stock Analysis on POWL

Powell Industries Company Profile

(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.

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

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