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BI Asset Management Fondsmaeglerselskab A S Decreases Position in Powell Industries, Inc. $POWL

Powell Industries logo with Industrials background

Key Points

  • BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Powell Industries by 94.7% in the first quarter, leaving them with only 443 shares after selling 7,955 shares.
  • Powell Industries reported $3.96 earnings per share (EPS) for the last quarter, exceeding the analyst estimate of $3.73, although revenue declined by 0.7% year-over-year.
  • The company announced a quarterly dividend of $0.2675 per share, representing a 0.4% yield, with the dividend payment scheduled for September 17th.
  • Looking to export and analyze Powell Industries data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 94.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443 shares of the industrial products company's stock after selling 7,955 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Powell Industries were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sei Investments Co. grew its position in Powell Industries by 2.7% in the 1st quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company's stock valued at $498,000 after acquiring an additional 77 shares in the last quarter. GeoWealth Management LLC grew its position in Powell Industries by 123.8% in the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 99 shares in the last quarter. Two Sigma Investments LP grew its position in Powell Industries by 3.7% in the 4th quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company's stock valued at $644,000 after acquiring an additional 104 shares in the last quarter. Brooklyn Investment Group grew its position in Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Powell Industries by 0.5% in the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock valued at $4,337,000 after acquiring an additional 118 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Up 0.4%

NASDAQ POWL traded up $1.14 during trading on Wednesday, hitting $274.37. The stock had a trading volume of 233,658 shares, compared to its average volume of 310,983. The company has a market capitalization of $3.31 billion, a PE ratio of 19.05, a PEG ratio of 1.36 and a beta of 0.81. The firm has a 50 day moving average price of $229.33 and a 200 day moving average price of $196.91. Powell Industries, Inc. has a twelve month low of $146.02 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.23. The company had revenue of $286.27 million during the quarter, compared to the consensus estimate 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 was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.79 EPS. On average, sell-side 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. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

Insider Activity

In other news, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $825,566.55. Following the completion of the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,308 shares of company stock worth $4,354,845. 2.20% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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