Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in Powell Industries, Inc. (NASDAQ:POWL) by 66.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,063 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Powell Industries were worth $152,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. New York State Teachers Retirement System boosted its position in 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 during the period. Diversified Trust Co boosted its position in Powell Industries by 8.7% during the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 129 shares during the period. Precision Wealth Strategies LLC grew its stake in shares of Powell Industries by 4.6% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 142 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Powell Industries by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Up 2.5 %

Shares of POWL opened at $174.44 on Wednesday. The firm has a 50-day moving average price of $156.63 and a 200 day moving average price of $156.14. The firm has a market capitalization of $2.09 billion, a PE ratio of 20.72, a P/E/G ratio of 0.99 and a beta of 0.87. Powell Industries, Inc. has a 52-week low of $72.51 and a 52-week high of $209.14.

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

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.61%. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Insider Activity

In other news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares in the company, valued at approximately $1,770,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the firm’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 transaction, the chief executive officer now owns 145,987 shares in the company, valued at approximately $23,711,208.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,100 shares of company stock worth $2,224,552. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Powell Industries

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.