American Century Companies Inc. Cuts Stake in 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 holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 85.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,778 shares of the industrial products company's stock after selling 299,972 shares during the period. American Century Companies Inc. owned about 0.43% of Powell Industries worth $8,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in POWL. Vanguard Group Inc. grew its position in shares of Powell Industries by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock valued at $118,871,000 after buying an additional 9,829 shares during the last quarter. Demars Financial Group LLC acquired a new position in shares of Powell Industries during the 1st quarter valued at about $58,692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Powell Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock valued at $66,023,000 after purchasing an additional 16,002 shares during the last quarter. Invesco Ltd. boosted its position in shares of Powell Industries by 4.1% during the 1st quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock valued at $47,008,000 after acquiring an additional 10,840 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new stake in Powell Industries during the first quarter worth about $27,984,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,921 shares of the business'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. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 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 value of $1,426,476.25. Following the completion of the transaction, the chief executive officer owned 147,471 shares of the company's stock, valued at $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,308 shares of company stock worth $4,354,845 over the last quarter. Insiders own 2.20% of the company's stock.

Powell Industries Trading Down 1.9%

Shares of NASDAQ:POWL traded down $5.11 during midday trading on Friday, hitting $266.16. The company had a trading volume of 151,563 shares, compared to its average volume of 313,947. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.35 and a beta of 0.81. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98. The firm has a fifty day simple moving average of $233.00 and a 200 day simple moving average of $197.65.

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 analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company had revenue of $286.27 million for the quarter, compared to analysts' expectations of $301.69 million. During the same quarter in the prior year, the business posted $3.79 EPS. The business's revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm 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 $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

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.