Cambridge Investment Research Advisors Inc. Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Cambridge Investment Research Advisors Inc. decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,761 shares of the industrial products company's stock after selling 3,198 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.09% of Powell Industries worth $1,833,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in POWL. Roman Butler Fullerton & Co. boosted its holdings in Powell Industries by 47.2% during the 1st quarter. Roman Butler Fullerton & Co. now owns 3,601 shares of the industrial products company's stock worth $624,000 after acquiring an additional 1,154 shares during the last quarter. Demars Financial Group LLC bought a new position in shares of Powell Industries during the first quarter valued at about $58,692,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Powell Industries by 17.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock worth $330,000 after purchasing an additional 292 shares during the last quarter. Liberty Capital Management Inc. grew its position in Powell Industries by 8.4% in the 1st quarter. Liberty Capital Management Inc. now owns 2,756 shares of the industrial products company's stock worth $469,000 after purchasing an additional 214 shares in the last quarter. Finally, CX Institutional purchased a new stake in Powell Industries in the 1st quarter valued at about $227,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Stock Performance

NASDAQ:POWL traded down $1.03 during trading on Friday, reaching $217.50. The company's stock had a trading volume of 229,294 shares, compared to its average volume of 420,572. Powell Industries, Inc. has a 12 month low of $127.01 and a 12 month high of $364.98. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.10 and a beta of 0.77. The firm has a 50 day moving average of $186.06 and a 200-day moving average of $198.48.

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

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is 7.52%.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock valued at $3,574,755 over the last three months. Company insiders own 2.20% of the company's stock.

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.