Northern Trust Corp Reduces Position in Powell Industries, Inc. $POWL

Northern Trust Corp trimmed its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,690 shares of the industrial products company's stock after selling 10,133 shares during the period. Northern Trust Corp owned approximately 0.88% of Powell Industries worth $18,173,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group increased its position in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Versor Investments LP bought a new position in shares of Powell Industries in the first quarter worth approximately $204,000. Raymond James Financial Inc. increased its position in shares of Powell Industries by 19.7% in the first quarter. Raymond James Financial Inc. now owns 121,808 shares of the industrial products company's stock worth $20,747,000 after purchasing an additional 20,043 shares during the last quarter. Sei Investments Co. increased its position in shares of Powell Industries by 2.7% in the first quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company's stock worth $498,000 after purchasing an additional 77 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Powell Industries by 259.8% in the first quarter. Lord Abbett & CO. LLC now owns 57,383 shares of the industrial products company's stock worth $9,774,000 after purchasing an additional 41,433 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 0.9%

Shares of POWL stock traded down $2.49 during trading on Friday, hitting $268.24. The company had a trading volume of 136,710 shares, compared to its average volume of 245,921. The stock's 50-day moving average is $240.09 and its two-hundred day moving average is $199.53. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.33 and a beta of 0.85. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) 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 analyst estimates of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.Powell Industries's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.79 earnings per share. On average, research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid 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 currently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of the company'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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the company'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 value 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 approximately $31,050,019.05. This represents a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,308 shares of company stock valued at $4,354,845 over the last quarter. 2.20% of the stock is owned by corporate insiders.

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.