Teacher Retirement System of Texas Reduces Position in Powell Industries, Inc. (NASDAQ:POWL)

Teacher Retirement System of Texas decreased its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 66.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,173 shares of the industrial products company's stock after selling 6,302 shares during the period. Teacher Retirement System of Texas' holdings in Powell Industries were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Versant Capital Management Inc purchased a new stake in shares of Powell Industries during the first quarter worth about $25,000. GeoWealth Management LLC boosted its position in Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares during the last quarter. Tucker Asset Management LLC acquired a new position in Powell Industries during the fourth quarter worth about $43,000. Prestige Wealth Management Group LLC boosted its position in Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Powell Industries during the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Activity at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 shares of the company's 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael William Metcalf sold 3,921 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the sale, the executive vice president directly owned 28,900 shares in the company, valued at approximately $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,308 shares of company stock worth $3,574,755. Company insiders own 2.20% of the company's stock.

Powell Industries Price Performance

POWL traded down $8.26 on Friday, reaching $228.25. 576,104 shares of the company's stock were exchanged, compared to its average volume of 415,837. The stock has a market cap of $2.75 billion, a PE ratio of 16.04, a P/E/G ratio of 1.15 and a beta of 0.77. Powell Industries, Inc. has a twelve month low of $127.41 and a twelve month high of $364.98. The stock's fifty day moving average price is $193.18 and its 200-day moving average price is $197.06.

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

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.47%. Powell Industries's payout ratio is 7.52%.

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.