Horizon Investment Services LLC reduced its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,869 shares of the industrial products company's stock after selling 1,441 shares during the quarter. Horizon Investment Services LLC's holdings in Powell Industries were worth $1,000,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in Powell Industries during the first quarter worth $25,000. GeoWealth Management LLC grew its holdings in Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after buying an additional 99 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of Powell Industries during the 4th quarter valued at about $43,000. Prestige Wealth Management Group LLC increased its stake in shares of Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after buying an additional 100 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Powell Industries in the fourth quarter worth $65,000. Institutional investors and hedge funds own 89.77% of the company's stock.
Insider Activity at Powell Industries
In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at approximately $6,084,895. This represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the sale, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. This represents a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,308 shares of company stock worth $3,574,755 over the last three months. Insiders own 2.20% of the company's stock.
Powell Industries Stock Performance
Shares of Powell Industries stock traded down $7.34 on Monday, hitting $220.91. The company's stock had a trading volume of 327,028 shares, compared to its average volume of 415,482. The firm has a fifty day moving average price of $193.18 and a 200-day moving average price of $196.83. Powell Industries, Inc. has a 1 year low of $127.41 and a 1 year high of $364.98. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.15 and a beta of 0.77.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.47. The firm had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 EPS. As a group, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 0.48%. The ex-dividend date of this dividend was Wednesday, May 21st. Powell Industries's dividend payout ratio is presently 7.52%.
Powell Industries Profile
(
Free Report)
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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