Inspire Investing LLC Trims Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Inspire Investing LLC cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 20.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,005 shares of the industrial products company’s stock after selling 1,311 shares during the quarter. Inspire Investing LLC’s holdings in Powell Industries were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the period. New York State Teachers Retirement System increased its holdings in Powell Industries by 1.2% during the first quarter. New York State Teachers Retirement System now owns 8,208 shares of the industrial products company’s stock valued at $1,168,000 after buying an additional 100 shares during the period. Diversified Trust Co increased its holdings in Powell Industries by 8.7% during the second quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after buying an additional 129 shares during the period. Precision Wealth Strategies LLC increased its holdings in Powell Industries by 4.6% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock valued at $288,000 after buying an additional 142 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Powell Industries by 2.9% during the second quarter. WINTON GROUP Ltd now owns 6,224 shares of the industrial products company’s stock valued at $893,000 after buying an additional 174 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.42, for a total transaction of $446,655.00. Following the completion of the sale, the chief executive officer now owns 145,987 shares of the company’s stock, valued at $23,711,208.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the sale, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock valued at $2,224,552 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 6th.

Powell Industries Stock Up 7.0 %

Shares of POWL stock opened at $206.34 on Friday. Powell Industries, Inc. has a 52-week low of $72.51 and a 52-week high of $209.14. The company’s 50 day moving average is $159.19 and its 200 day moving average is $156.53. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.01 and a beta of 0.87.

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

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 0.51%. Powell Industries’s payout ratio is 12.59%.

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.