Powell Industries, Inc. $POWL Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in Powell Industries, Inc. by 27.3%, selling 17,026 shares and holding a total of 45,288 shares valued at approximately $7.71 million.
• Corporate insiders, including Director John Birchall and CEO Brett Alan Cope, have recently sold significant portions of their holdings, with Birchall selling 3,000 shares and Cope selling 6,775 shares.
• Powell Industries has announced a quarterly dividend of $0.2675 per share with a yield of 0.4%, and its next dividend payment will be made on September 17th.

AQR Capital Management LLC lowered its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,288 shares of the industrial products company's stock after selling 17,026 shares during the period. AQR Capital Management LLC owned about 0.38% of Powell Industries worth $7,714,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Powell Industries by 1.4% in the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock worth $118,871,000 after acquiring an additional 9,829 shares during the last quarter. Demars Financial Group LLC bought a new position in Powell Industries in the first quarter worth about $58,692,000. Invesco Ltd. increased its stake in shares of Powell Industries by 4.1% in the first quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock valued at $47,008,000 after purchasing an additional 10,840 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Powell Industries during the first quarter valued at approximately $27,984,000. Finally, RPG Investment Advisory LLC raised its holdings in shares of Powell Industries by 342.4% during the first quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company's stock valued at $26,252,000 after buying an additional 119,289 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Activity

In related news, CEO Brett Alan Cope sold 6,775 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the transaction, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares in the company, valued at $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,328 shares of company stock valued at $4,158,845. Insiders own 2.20% of the company's stock.

Powell Industries Stock Performance

Shares of POWL traded down $6.91 during mid-day trading on Wednesday, reaching $291.32. 163,644 shares of the company's stock traded hands, compared to its average volume of 220,662. The business's 50-day moving average price is $251.68 and its 200-day moving average price is $205.62. The stock has a market capitalization of $3.52 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98.

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

Powell Industries Dividend Announcement

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