RMB Capital Management LLC Acquires New Position in Powell Industries, Inc. (NASDAQ:POWL)

RMB Capital Management LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,200 shares of the industrial products company’s stock, valued at approximately $730,000.

Several other large investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Powell Industries by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 956,575 shares of the industrial products company’s stock worth $23,924,000 after purchasing an additional 4,396 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Powell Industries by 13.1% during the second quarter. Renaissance Technologies LLC now owns 464,334 shares of the industrial products company’s stock valued at $17,645,000 after purchasing an additional 53,734 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Powell Industries by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 162,717 shares of the industrial products company’s stock valued at $6,183,000 after purchasing an additional 17,155 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Powell Industries by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 52,839 shares of the industrial products company’s stock valued at $2,008,000 after purchasing an additional 2,340 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Powell Industries by 11.0% during the second quarter. Parametric Portfolio Associates LLC now owns 18,750 shares of the industrial products company’s stock valued at $713,000 after purchasing an additional 1,857 shares during the last quarter. 65.06% of the stock is owned by institutional investors and hedge funds.

POWL stock traded up $0.36 on Tuesday, hitting $40.63. 505 shares of the company’s stock traded hands, compared to its average volume of 75,668. Powell Industries, Inc. has a 1-year low of $22.55 and a 1-year high of $40.94. The stock has a market cap of $451.68 million, a price-to-earnings ratio of 83.08 and a beta of 1.26. The stock has a fifty day moving average of $37.04 and a 200-day moving average of $34.18.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.20 by $0.24. Powell Industries had a net margin of 0.97% and a return on equity of 1.87%. The business had revenue of $135.60 million during the quarter, compared to analyst estimates of $132.31 million. During the same period in the prior year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a $0.26 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.04 annualized dividend and a dividend yield of 2.56%.

Separately, BidaskClub raised shares of Powell Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday.

In related news, Director Bonnie V. Hancock sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $37.89, for a total value of $75,780.00. Following the completion of the sale, the director now owns 17,300 shares in the company, valued at approximately $655,497. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.90% of the stock is currently owned by corporate insiders.

Powell Industries Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, 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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