Pacer Advisors Inc. Reduces Stake in Powell Industries, Inc. (NASDAQ:POWL)

Pacer Advisors Inc. cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 471,353 shares of the industrial products company’s stock after selling 141,776 shares during the period. Pacer Advisors Inc.’s holdings in Powell Industries were worth $67,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in POWL. GAMMA Investing LLC boosted its holdings in Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Powell Industries by 1.2% during the 1st 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 purchasing an additional 100 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Powell Industries by 8.7% during the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 129 shares in the last quarter. Precision Wealth Strategies LLC increased its position in shares of 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 raised its stake in Powell Industries by 2.9% in the second quarter. WINTON GROUP Ltd now owns 6,224 shares of the industrial products company’s stock worth $893,000 after buying an additional 174 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In related news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,100 shares of company stock worth $2,224,552. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Powell Industries Stock Up 7.0 %

NASDAQ POWL opened at $206.34 on Friday. The firm has a market capitalization of $2.47 billion, a PE ratio of 24.51, a P/E/G ratio of 1.01 and a beta of 0.87. The stock’s 50 day moving average is $160.47 and its 200 day moving average is $156.61. Powell Industries, Inc. has a twelve month low of $72.51 and a twelve month high of $209.14.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. The firm had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. On average, research analysts anticipate that Powell Industries, Inc. will post 12.01 earnings per share for the current year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio is 12.59%.

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.