American Century Companies Inc. Sells 299,972 Shares of Powell Industries, Inc. $POWL

Key Points

• American Century Companies Inc. has sold 299,972 shares of Powell Industries, reducing their stake by 85.3%, resulting in ownership of 51,778 shares valued at $8,819,000.
• Powell Industries reported earnings per share (EPS) of $3.96 for the most recent quarter, exceeding analyst expectations, but revenue saw a 0.7% decline year-over-year.
• The company announced a quarterly dividend of $0.2675 per share, with an annualized yield of 0.4%, payable on September 17th to shareholders on record as of August 20th.

American Century Companies Inc. lowered its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 85.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,778 shares of the industrial products company's stock after selling 299,972 shares during the period. American Century Companies Inc. owned approximately 0.43% of Powell Industries worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares of Powell Industries by 2.7% during the first quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company's stock valued at $498,000 after purchasing an additional 77 shares during the period. Two Sigma Investments LP raised its holdings in shares of Powell Industries by 3.7% in the 4th quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company's stock worth $644,000 after acquiring an additional 104 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Powell Industries by 0.5% in the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock worth $4,337,000 after acquiring an additional 118 shares during the last quarter. US Bancorp DE raised its holdings in shares of Powell Industries by 4.8% in the 1st quarter. US Bancorp DE now owns 2,775 shares of the industrial products company's stock worth $473,000 after acquiring an additional 126 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Powell Industries by 0.7% in the 4th quarter. Squarepoint Ops LLC now owns 18,793 shares of the industrial products company's stock worth $4,165,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Buying and Selling

In other Powell Industries news, Director John Birchall sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the sale, the director directly owned 6,700 shares of the company's stock, valued at approximately $1,742,201. This represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of the company'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 sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,308 shares of company stock worth $4,354,845 in the last quarter. Insiders own 2.20% of the company's stock.

Powell Industries Trading Down 1.9%

Shares of POWL traded down $5.11 on Monday, reaching $266.16. The company's stock had a trading volume of 151,563 shares, compared to its average volume of 301,615. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98. The stock has a market capitalization of $3.21 billion, a PE ratio of 18.48, a PEG ratio of 1.32 and a beta of 0.85. The firm has a fifty day moving average of $234.71 and a 200-day moving average of $197.82.

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

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio is currently 7.43%.

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.