Powell Industries, Inc. $POWL Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. sold 195,150 shares of Powell Industries, reducing its ownership by 65.5% and leaving it with approximately 0.85% of the company valued at $17.5 million.
• A variety of institutional investors, including Demars Financial Group LLC and GW&K Investment Management LLC, have recently increased their stakes in Powell Industries, with institutional ownership now at 89.77%.
• Powell Industries stock has seen a 5.6% increase recently, trading at $292.40, with a market cap of $3.53 billion and reported earnings per share of $3.96, exceeding expectations.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 65.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,718 shares of the industrial products company's stock after selling 195,150 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.85% of Powell Industries worth $17,497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Powell Industries by 93.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock valued at $675,000 after acquiring an additional 1,858 shares during the period. Principal Financial Group Inc. lifted its holdings in Powell Industries by 2.8% in the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock worth $9,465,000 after purchasing an additional 1,509 shares during the period. Vontobel Holding Ltd. lifted its holdings in Powell Industries by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock worth $228,000 after purchasing an additional 137 shares during the period. GAMMA Investing LLC lifted its holdings in Powell Industries by 29.8% in the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after purchasing an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Powell Industries by 17.7% in 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 period. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Buying and Selling

In other Powell Industries news, Director John Birchall sold 3,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the sale, the director directly owned 6,700 shares of the company's stock, valued at approximately $1,742,201. This represents a 30.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the completion of the sale, the chief executive officer directly owned 147,471 shares of the company's stock, valued at $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. Insiders sold 20,308 shares of company stock valued at $4,354,845 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Powell Industries Trading Down 1.6%

POWL stock traded down $4.72 during trading on Friday, hitting $287.68. The company had a trading volume of 148,676 shares, compared to its average volume of 211,631. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.43 and a beta of 0.85. The business has a 50 day moving average of $246.73 and a 200 day moving average of $203.45. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98.

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

Powell Industries Dividend Announcement

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

Powell Industries Company 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.