Transform Wealth LLC Has $371.56 Million Stake in Powell Industries, Inc. (NASDAQ:POWL)

Transform Wealth LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 0.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,673,759 shares of the industrial products company’s stock after selling 403 shares during the period. Powell Industries comprises approximately 24.6% of Transform Wealth LLC’s investment portfolio, making the stock its biggest position. Transform Wealth LLC owned 13.96% of Powell Industries worth $371,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after acquiring an additional 17,177 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after acquiring an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after acquiring an additional 1,015 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Powell Industries in the 2nd quarter valued at $11,658,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Powell Industries in the 2nd quarter valued at $6,713,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Price Performance

NASDAQ POWL traded up $12.44 on Wednesday, reaching $276.99. The company had a trading volume of 105,493 shares, compared to its average volume of 367,587. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 1.46 and a beta of 0.88. Powell Industries, Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $278.24. The business has a 50 day moving average of $192.05 and a two-hundred day moving average of $167.07.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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 return on equity of 33.09% and a net margin of 13.77%. Powell Industries’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, research analysts predict that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.38%. Powell Industries’s payout ratio is 12.59%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. This trade 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 Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the sale, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This trade 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, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,350 shares of company stock worth $14,774,341 over the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.