New York State Teachers Retirement System Has $1.65 Million Stock Holdings in Powell Industries, Inc. $POWL

New York State Teachers Retirement System lessened its position in Powell Industries, Inc. (NASDAQ:POWL) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,820 shares of the industrial products company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Powell Industries were worth $1,646,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Sei Investments Co. increased its position in shares of Powell Industries by 2.7% during the 1st quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 77 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Rhumbline Advisers increased its position in shares of Powell Industries by 0.5% during the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company’s stock worth $4,337,000 after purchasing an additional 118 shares during the last quarter. US Bancorp DE increased its position in shares of Powell Industries by 4.8% during the 1st quarter. US Bancorp DE now owns 2,775 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 126 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Powell Industries by 11.4% during the 1st quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL stock opened at $332.87 on Thursday. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $364.98. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.67 and a beta of 0.82. The company has a fifty day moving average price of $291.34 and a two-hundred day moving average price of $229.68.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.79 earnings per share. Research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Powell Industries’s payout ratio is currently 7.43%.

Insider Activity at Powell Industries

In other news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the transaction, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the sale, the director directly owned 6,700 shares of the company’s stock, valued at approximately $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings raised Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, Powell Industries has an average rating of “Buy” and an average price target of $312.00.

Powell Industries 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.