Royce & Associates LP Decreases Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Key Points

• Royce & Associates LP reduced its stake in Powell Industries by 3.7%, now holding approximately 69,529 shares worth $11.84 million, following a sale of 2,664 shares.
• CEO Brett Alan Cope and EVP Michael William Metcalf sold a combined total of 10,696 shares of Powell Industries, indicating a notable decrease in their ownership positions.
• Powell Industries reported a 9.2% increase in year-over-year revenue, with earnings per share of $3.81 for the most recent quarter, surpassing estimates by $0.47.

Royce & Associates LP decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,529 shares of the industrial products company's stock after selling 2,664 shares during the period. Royce & Associates LP owned approximately 0.58% of Powell Industries worth $11,843,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in Powell Industries by 3.1% during the fourth quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock valued at $631,000 after buying an additional 85 shares during the last quarter. Freedom Investment Management Inc. increased its position in Powell Industries by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock worth $537,000 after purchasing an additional 87 shares during the last quarter. GeoWealth Management LLC increased its position in Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Two Sigma Investments LP raised its stake in Powell Industries by 3.7% during the fourth quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company's stock valued at $644,000 after purchasing an additional 104 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Powell Industries by 6.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 109 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Powell Industries

In related news, 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 transaction, the chief executive officer directly owned 147,471 shares in the company, valued at approximately $31,050,019.05. This represents a 4.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the sale, the executive vice president directly owned 28,900 shares in the company, valued at $6,084,895. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,308 shares of company stock valued at $3,574,755 over the last ninety days. 2.20% of the stock is owned by insiders.

Powell Industries Stock Up 3.4%

Powell Industries stock opened at $248.37 on Friday. The company's 50-day moving average price is $197.92 and its 200-day moving average price is $197.10. The company has a market cap of $3.00 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. Powell Industries, Inc. has a twelve month low of $132.41 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. As a group, sell-side analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.43%. Powell Industries's dividend payout ratio is presently 7.52%.

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.

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