Powell Industries, Inc. $POWL Shares Sold by BI Asset Management Fondsmaeglerselskab A S

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.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 94.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 443 shares of the industrial products company's stock after selling 7,955 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Powell Industries were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Demars Financial Group LLC bought a new position in Powell Industries in the first quarter worth approximately $58,692,000. GW&K Investment Management LLC purchased a new stake in shares of Powell Industries in the 1st quarter worth $27,984,000. GAMMA Investing LLC raised its holdings in Powell Industries by 22,009.7% in the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock worth $17,436,000 after purchasing an additional 101,905 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Powell Industries during the first quarter valued at $16,405,000. Finally, BNP Paribas Financial Markets grew its holdings in Powell Industries by 795.9% during the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company's stock valued at $18,135,000 after purchasing an additional 72,686 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Transactions at Powell Industries

In other Powell Industries news, Director John Birchall sold 3,000 shares of the firm'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 $1,742,201. This trade represents a 30.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the business'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 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. Over the last ninety days, insiders sold 20,308 shares of company stock worth $4,354,845. 2.20% of the stock is currently owned by insiders.

Powell Industries Trading Down 1.9%

NASDAQ POWL traded down $5.11 on Friday, reaching $266.16. 151,563 shares of the stock were exchanged, compared to its average volume of 313,947. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $364.98. The firm has a market capitalization of $3.21 billion, a PE ratio of 18.48, a PEG ratio of 1.32 and a beta of 0.81. The company's 50-day simple moving average is $233.00 and its two-hundred day simple moving average is $197.57.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, topping 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 firm had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. During the same quarter in the previous year, the firm earned $3.79 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm 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. This represents a $1.07 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's dividend payout ratio is 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.