AQR Capital Management LLC Has $7.71 Million Stock Position in Powell Industries, Inc. $POWL

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 reduced its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other hedge funds and other institutional investors have also modified their holdings of POWL. Versant Capital Management Inc bought a new stake in Powell Industries in the 1st quarter valued at about $25,000. Brooklyn Investment Group lifted its position in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Harbour Investments Inc. lifted its position in Powell Industries by 1,970.0% in the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 197 shares during the last quarter. AlphaQuest LLC lifted its position in Powell Industries by 472.0% in the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock valued at $73,000 after purchasing an additional 354 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Powell Industries by 29.8% during the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after buying an additional 138 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Shares of POWL stock traded down $1.87 during midday trading on Wednesday, reaching $296.36. 12,084 shares of the company were exchanged, compared to its average volume of 360,914. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98. The company has a market cap of $3.58 billion, a P/E ratio of 20.58, a PEG ratio of 1.50 and a beta of 0.85. The company's 50 day moving average price is $250.09 and its two-hundred day moving average price is $205.03.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS 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 the consensus estimate of $301.69 million. During the same period in the previous year, the firm earned $3.79 EPS. Powell Industries's revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current 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 payout ratio is presently 7.43%.

Insider Buying and Selling

In other news, CEO Brett Alan Cope sold 6,775 shares of the business'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 sale, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of the business'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 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 disclosure for this sale can be found here. Insiders have sold 19,328 shares of company stock worth $4,158,845 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

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.