LPL Financial LLC Sells 1,090 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Key Points

• LPL Financial LLC reduced its stake in Powell Industries by 3.0% during the first quarter, owning approximately 0.30% of the company, valued at $6,084,000 after selling 1,090 shares.
• Insider trading revealed that CEO Brett Alan Cope sold 6,775 shares at an average price of $210.55, reducing his stake by 4.39% to 147,471 shares, while EVP Michael William Metcalf also sold shares, indicating significant insider activity.
• Powell Industries reported a quarterly EPS of $3.96, exceeding analysts' estimates, while their revenue declined by 0.7% year-over-year, standing at $286.27 million for the quarter.

LPL Financial LLC trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,718 shares of the industrial products company's stock after selling 1,090 shares during the quarter. LPL Financial LLC owned about 0.30% of Powell Industries worth $6,084,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of POWL. Allspring Global Investments Holdings LLC increased its holdings in Powell Industries by 93.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock valued at $675,000 after buying an additional 1,858 shares during the period. Principal Financial Group Inc. increased its holdings in Powell Industries by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock valued at $9,465,000 after buying an additional 1,509 shares during the period. Vontobel Holding Ltd. increased its holdings in Powell Industries by 11.4% in the 1st quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock valued at $228,000 after buying an additional 137 shares during the period. GAMMA Investing LLC grew its holdings 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 valued at $102,000 after purchasing an additional 138 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Powell Industries by 17.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock valued at $330,000 after purchasing an additional 292 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Powell Industries

In other news, 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. The trade was a 4.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 3,921 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 transaction of $825,566.55. Following the completion of the sale, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,308 shares of company stock valued at $3,574,755 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Powell Industries Trading Up 8.6%

Shares of Powell Industries stock opened at $264.83 on Tuesday. The firm has a market capitalization of $3.20 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.21 and a beta of 0.81. The firm's 50 day moving average is $211.52 and its 200 day moving average is $194.53. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. During the same period in the previous year, the firm posted $3.79 EPS. The firm's revenue was down .7% on a year-over-year basis. As a group, research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. Powell Industries's payout ratio is currently 7.43%.

Powell Industries 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.

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