Spire Wealth Management Cuts Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Spire Wealth Management trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 92.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 346 shares of the industrial products company's stock after selling 4,297 shares during the quarter. Spire Wealth Management's holdings in Powell Industries were worth $59,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Demars Financial Group LLC bought a new position in Powell Industries during the 1st quarter valued at $58,692,000. Invesco Ltd. boosted its stake in shares of Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after buying an additional 151,850 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Powell Industries by 22,009.7% during the first quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after acquiring an additional 101,905 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Powell Industries during the fourth quarter worth $22,556,000. Finally, BNP Paribas Financial Markets boosted its position in Powell Industries by 795.9% in the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company's stock worth $18,135,000 after purchasing an additional 72,686 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Trading Down 0.5%

Shares of NASDAQ:POWL traded down $1.03 during mid-day trading on Thursday, reaching $217.50. The company had a trading volume of 229,294 shares, compared to its average volume of 420,572. Powell Industries, Inc. has a one year low of $127.01 and a one year high of $364.98. The company's 50-day moving average price is $185.40 and its 200-day moving average price is $198.72. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.10 and a beta of 0.77.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The firm had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. During the same quarter in the prior year, the firm earned $2.75 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is currently 7.52%.

Insider Buying and Selling

In related news, CEO Brett Alan Cope sold 6,775 shares of Powell Industries 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 transaction, the chief executive officer directly owned 147,471 shares in the company, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 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 value of $825,566.55. Following the sale, the executive vice president owned 28,900 shares in the company, valued at approximately $6,084,895. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,308 shares of company stock worth $3,574,755 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

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.