Freedom Day Solutions LLC Takes $1.67 Million Position in Powell Industries, Inc. (NASDAQ:POWL)

Freedom Day Solutions LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.06% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Powell Industries in the 2nd quarter worth about $1,403,000. Quadrature Capital Ltd purchased a new stake in Powell Industries during the 1st quarter valued at $1,927,000. Commonwealth Equity Services LLC bought a new stake in shares of Powell Industries in the 1st quarter worth $1,628,000. FORA Capital LLC purchased a new position in shares of Powell Industries in the first quarter worth $1,000,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Powell Industries by 471.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company's stock valued at $4,448,000 after purchasing an additional 25,789 shares in the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Brett Alan Cope sold 2,750 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total value of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the transaction, the insider now directly owns 1,628,328 shares of the company's stock, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,350 shares of company stock worth $14,774,341. 2.20% of the stock is owned by corporate insiders.

Powell Industries Price Performance

Shares of POWL stock traded up $4.60 during trading hours on Friday, reaching $254.31. 232,075 shares of the company traded hands, compared to its average volume of 367,486. The firm has a 50-day moving average price of $206.95 and a 200 day moving average price of $173.10. The company has a market cap of $3.05 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.53 and a beta of 0.88. Powell Industries, Inc. has a 12-month low of $72.80 and a 12-month high of $284.45.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $222.18 million. During the same period in the prior year, the business posted $1.52 earnings per share. The company's revenue was up 49.8% on a year-over-year basis. Sell-side analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were paid a $0.265 dividend. 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 (DPR) is 9.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Wednesday.

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.