Bank of New York Mellon Corp Trims Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Bank of New York Mellon Corp trimmed its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 77,812 shares of the industrial products company's stock after selling 2,981 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Powell Industries worth $13,254,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Huntleigh Advisors Inc. lifted its holdings in shares of Powell Industries by 16.6% in the 1st quarter. Huntleigh Advisors Inc. now owns 2,148 shares of the industrial products company's stock worth $366,000 after acquiring an additional 306 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Powell Industries by 2.8% during the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock worth $9,465,000 after buying an additional 1,509 shares during the period. Private Trust Co. NA grew its stake in shares of Powell Industries by 15.9% in the first quarter. Private Trust Co. NA now owns 3,872 shares of the industrial products company's stock valued at $660,000 after buying an additional 532 shares in the last quarter. WCM Investment Management LLC grew its stake in shares of Powell Industries by 0.4% in the first quarter. WCM Investment Management LLC now owns 63,049 shares of the industrial products company's stock valued at $11,142,000 after buying an additional 242 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of Powell Industries in the first quarter valued at $112,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of the company'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 sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at $6,084,895. This represents a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the sale, the chief executive officer directly owned 147,471 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 17,308 shares of company stock worth $3,574,755. 2.20% of the stock is owned by insiders.

Powell Industries Trading Down 3.5%

Shares of NASDAQ POWL opened at $228.25 on Monday. Powell Industries, Inc. has a twelve month low of $127.41 and a twelve month high of $364.98. The stock has a fifty day simple moving average of $193.18 and a 200-day simple moving average of $196.83. The stock has a market capitalization of $2.75 billion, a PE ratio of 16.04, a PEG ratio of 1.15 and a beta of 0.77.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The business had revenue of $278.63 million during the quarter, compared to analysts' expectations of $282.68 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The company's revenue was up 9.2% on a year-over-year basis. On average, equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, May 21st. Powell Industries's payout ratio is currently 7.52%.

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.

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