Sigma Planning Corp cut its stake in Powell Industries, Inc. (NASDAQ:POWL – Free Report) by 74.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 991 shares of the industrial products company’s stock after selling 2,830 shares during the quarter. Sigma Planning Corp’s holdings in Powell Industries were worth $536,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of POWL. Principal Financial Group Inc. raised its position in shares of Powell Industries by 44.5% in the 1st quarter. Principal Financial Group Inc. now owns 65,051 shares of the industrial products company’s stock worth $35,198,000 after acquiring an additional 20,025 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Powell Industries by 10,459.4% during the first quarter. Fifth Third Bancorp now owns 7,286 shares of the industrial products company’s stock valued at $3,942,000 after purchasing an additional 7,217 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in Powell Industries by 201.9% in the first quarter. Roman Butler Fullerton & Co. now owns 9,641 shares of the industrial products company’s stock worth $5,217,000 after purchasing an additional 6,448 shares during the period. Abel Hall LLC purchased a new stake in Powell Industries in the first quarter worth $353,000. Finally, HB Wealth Management LLC bought a new position in Powell Industries in the first quarter worth $215,000. 89.77% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $323.69, for a total value of $809,225.00. Following the sale, the vice president owned 10,853 shares in the company, valued at approximately $3,513,007.57. This represents a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,088 shares of company stock worth $16,070,066 over the last 90 days. 2.20% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on Powell Industries
Powell Industries Stock Performance
Shares of POWL stock opened at $228.28 on Tuesday. Powell Industries, Inc. has a one year low of $69.00 and a one year high of $328.00. The company’s 50-day moving average is $275.27 and its 200 day moving average is $217.57. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 44.67, a price-to-earnings-growth ratio of 3.04 and a beta of 1.13.
Powell Industries (NASDAQ:POWL – Get Free Report) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). The firm had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $3.81 earnings per share. As a group, research analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.
Powell Industries Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s payout ratio is presently 7.05%.
Powell Industries Profile
Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.
Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.
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