Powell Industries, Inc. $POWL Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its stake in Powell Industries, Inc. by 21.7%, now owning approximately 30,527 shares valued at $5.20 million.
• Insider trading activity includes Director John Birchall and CEO Brett Alan Cope both selling shares, with Birchall decreasing his position by 30.93% and Cope by 4.39%.
• Powell Industries recently declared a quarterly dividend of $0.2675, resulting in an annualized yield of 0.4% and a payout ratio of 7.43%.

Panagora Asset Management Inc. cut its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,527 shares of the industrial products company's stock after selling 8,466 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.25% of Powell Industries worth $5,200,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in Powell Industries in the 1st quarter valued at approximately $25,000. Brooklyn Investment Group raised its holdings 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 acquiring an additional 108 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 197 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Powell Industries by 472.0% during the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock valued at $73,000 after acquiring an additional 354 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Powell Industries by 29.8% in 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. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 shares of the 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 $1,426,476.25. Following the completion of the sale, the chief executive officer owned 147,471 shares of the company's stock, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Birchall sold 3,000 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the transaction, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,308 shares of company stock worth $4,354,845 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Down 0.9%

Shares of NASDAQ:POWL traded down $2.49 during trading on Friday, reaching $268.24. The stock had a trading volume of 136,710 shares, compared to its average volume of 237,902. The stock has a market cap of $3.24 billion, a P/E ratio of 18.63, a PEG ratio of 1.33 and a beta of 0.85. The business has a fifty day moving average price of $240.09 and a 200-day moving average price of $199.61. 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 results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. During the same quarter in the previous year, the business earned $3.79 EPS. The firm's revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast 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. Shareholders of record on Wednesday, August 20th will be given 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 (DPR) is 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.