Deutsche Bank AG Has $1.42 Million Stake in Powell Industries, Inc. $POWL

Key Points

• Deutsche Bank AG reduced its stake in Powell Industries by 10.3%, owning 8,308 shares worth approximately $1.42 million as of its latest SEC filing.
• Powell Industries recently reported an EPS of $3.96 for the quarter, exceeding estimates, though revenue of $286.27 million fell short of projections.
• The company declared a quarterly dividend of $0.2675 per share, with an annualized yield of 0.4%, set to be paid on September 17th.

Deutsche Bank AG cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,308 shares of the industrial products company's stock after selling 959 shares during the quarter. Deutsche Bank AG owned 0.07% of Powell Industries worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Powell Industries during the 1st quarter worth approximately $25,000. GeoWealth Management LLC boosted its position in Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after buying an additional 99 shares during the period. Harbour Investments Inc. boosted its position in Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock worth $35,000 after buying an additional 197 shares during the period. Rossby Financial LCC acquired a new stake in Powell Industries during the 1st quarter worth approximately $112,000. Finally, GAMMA Investing LLC boosted its position in 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 during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Powell Industries

In other news, 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 value of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. The trade was a 11.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the business'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 completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,308 shares of company stock worth $4,354,845. Company insiders own 2.20% of the company's stock.

Powell Industries Trading Down 1.1%

NASDAQ:POWL traded down $3.10 during mid-day trading on Thursday, hitting $271.27. 253,868 shares of the company's stock were exchanged, compared to its average volume of 313,628. The company has a 50 day simple moving average of $231.18 and a 200-day simple moving average of $197.27. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The firm has a market capitalization of $3.27 billion, a P/E ratio of 18.84, a PEG ratio of 1.36 and a beta of 0.81.

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

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $0.2675 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. 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.