AQR Capital Management LLC Has $7.05 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

AQR Capital Management LLC lowered its stake in Powell Industries, Inc. (NASDAQ:POWL) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,182 shares of the industrial products company’s stock after selling 7,695 shares during the period. AQR Capital Management LLC owned 0.41% of Powell Industries worth $7,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 79 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries during the second quarter valued at about $47,000. Plato Investment Management Ltd bought a new stake in shares of Powell Industries during the first quarter worth about $50,000. Canada Pension Plan Investment Board bought a new position in Powell Industries in the 2nd quarter valued at approximately $72,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Powell Industries during the 2nd quarter worth approximately $140,000. Institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Friday.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated 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 completion of the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,100 shares of company stock valued at $7,563,552. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Up 0.3 %

NASDAQ POWL opened at $232.22 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.30 and a beta of 0.87. Powell Industries, Inc. has a twelve month low of $72.51 and a twelve month high of $242.00. The stock has a fifty day simple moving average of $173.82 and a 200 day simple moving average of $160.06.

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

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were given a $0.265 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

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.