Powell Industries, Inc. $POWL Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC sold 14.7% of its holdings in Powell Industries, reducing its position to 17,954 shares valued at approximately $3.06 million.
• CEO Brett Alan Cope and EVP Michael William Metcalf sold significant amounts of Powell Industries stock, reflecting a 4.39% and 11.95% decrease in their ownership, respectively.
• Powell Industries reported a net margin of 16.22% in its latest quarterly earnings, beating earnings expectations but falling short on revenue at $286.27 million.

Algert Global LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 14.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,954 shares of the industrial products company's stock after selling 3,090 shares during the period. Algert Global LLC owned 0.15% of Powell Industries worth $3,058,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Powell Industries by 1.4% during the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock worth $118,871,000 after purchasing an additional 9,829 shares in the last quarter. Demars Financial Group LLC acquired a new stake in Powell Industries in the first quarter worth about $58,692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Powell Industries by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock worth $66,023,000 after acquiring an additional 16,002 shares in the last quarter. Invesco Ltd. boosted its holdings in Powell Industries by 4.1% in the first quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock worth $47,008,000 after acquiring an additional 10,840 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in Powell Industries in the first quarter worth about $27,984,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Down 0.5%

Shares of NASDAQ:POWL traded down $1.22 during trading on Monday, hitting $261.73. The stock had a trading volume of 65,761 shares, compared to its average volume of 376,024. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.81. The stock has a 50-day simple moving average of $224.31 and a two-hundred day simple moving average of $195.63.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. During the same period last year, the business posted $3.79 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's payout ratio is presently 7.43%.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the transaction, the executive vice president directly owned 28,900 shares in the company, valued at $6,084,895. This trade represents a 11.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the sale, the chief executive officer directly owned 147,471 shares in the company, valued at $31,050,019.05. This represents a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,308 shares of company stock valued at $3,574,755 in the last 90 days. Insiders own 2.20% of the company's stock.

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.