Thoroughbred Financial Services LLC Cuts Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Key Points

• Thoroughbred Financial Services LLC reduced its holdings in Powell Industries by 63.5% in the first quarter, leaving them with shares worth $275,000 after selling 2,816 shares.
• Powell Industries reported $3.96 earnings per share for the last quarter, exceeding analysts' expectations, although revenue saw a 0.7% decline year-over-year.
• The company has declared a quarterly dividend of $0.2675, yielding 0.5%, with the payout ratio currently at 7.43%.

Thoroughbred Financial Services LLC lessened its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 63.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,616 shares of the industrial products company's stock after selling 2,816 shares during the period. Thoroughbred Financial Services LLC's holdings in Powell Industries were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of POWL. Freedom Investment Management Inc. increased its position in Powell Industries by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock worth $537,000 after acquiring an additional 87 shares during the period. GeoWealth Management LLC increased its holdings 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 buying an additional 99 shares during the period. Two Sigma Investments LP increased its holdings 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 buying an additional 104 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Powell Industries by 6.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company's stock valued at $379,000 after buying an additional 109 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Powell Industries by 0.5% during the 1st quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock valued at $4,337,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 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 $1,426,476.25. Following the completion of the transaction, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of Powell Industries 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 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 90 days, insiders have sold 17,308 shares of company stock worth $3,574,755. Corporate insiders own 2.20% of the company's stock.

Powell Industries Price Performance

POWL stock traded up $3.58 during trading on Tuesday, reaching $268.41. 107,541 shares of the company were exchanged, compared to its average volume of 382,168. The company has a 50-day moving average of $211.52 and a two-hundred day moving average of $194.53. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.21 and a beta of 0.81. 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 announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $301.69 million. During the same period in the prior year, the company posted $3.79 EPS. The company's revenue was down .7% on a year-over-year basis. On average, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current 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 issued a dividend of $0.2675 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's dividend payout ratio is presently 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.