Freedom Day Solutions LLC Purchases Shares of 7,517 Powell Industries, Inc. (NASDAQ:POWL)

Freedom Day Solutions LLC acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,517 shares of the industrial products company’s stock, valued at approximately $1,669,000. Freedom Day Solutions LLC owned approximately 0.06% of Powell Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in POWL. Private Advisor Group LLC raised its position in shares of Powell Industries by 11.5% during the third quarter. Private Advisor Group LLC now owns 2,090 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 215 shares during the period. Raymond James & Associates lifted its stake in shares of Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after buying an additional 3,385 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Powell Industries by 18.6% during the third quarter. Stratos Wealth Partners LTD. now owns 31,429 shares of the industrial products company’s stock valued at $6,977,000 after buying an additional 4,924 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Powell Industries during the third quarter worth about $208,000. Finally, Creative Planning raised its holdings in shares of Powell Industries by 20.8% in the 3rd quarter. Creative Planning now owns 2,612 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction on Friday, August 9th. The stock was 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 of the company’s stock, valued at approximately $23,711,208.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett Alan Cope sold 2,750 shares of the company’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 directly owns 145,987 shares in the company, valued at $23,711,208.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,350 shares of company stock valued at $14,774,341. 2.20% of the stock is owned by insiders.

Powell Industries Price Performance

POWL opened at $249.71 on Friday. Powell Industries, Inc. has a 1 year low of $72.80 and a 1 year high of $284.45. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 1.53 and a beta of 0.88. The firm’s fifty day moving average price is $206.95 and its two-hundred day moving average price is $173.10.

Powell Industries (NASDAQ:POWL) last released its quarterly 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 net margin of 13.77% and a return on equity of 33.09%. The business had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. During the same period in the previous year, the company earned $1.52 earnings per share. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, equities analysts anticipate that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio is presently 9.92%.

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.