Thoroughbred Financial Services LLC Has $275,000 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 shares of 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 & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in POWL. Versant Capital Management Inc bought a new position in Powell Industries in the 1st quarter valued at approximately $25,000. Harbour Investments Inc. raised its stake in shares of Powell Industries by 1,970.0% during the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 197 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 99 shares during the last quarter. Transce3nd LLC bought a new position in shares of Powell Industries during the fourth quarter valued at $78,000. Finally, GAMMA Investing LLC raised its stake in shares of Powell Industries by 29.8% during the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock valued at $102,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Stock Performance

POWL stock opened at $233.41 on Friday. The company has a fifty day moving average price of $208.17 and a 200-day moving average price of $196.49. The company has a market capitalization of $2.82 billion, a P/E ratio of 16.21, a PEG ratio of 1.15 and a beta of 0.81. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The business had revenue of $286.27 million during the quarter, compared to the consensus estimate of $301.69 million. During the same quarter last year, the firm earned $3.79 earnings per share. Powell Industries's quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is presently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $825,566.55. Following the completion of the sale, the executive vice president directly owned 28,900 shares in the company, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Alan Cope sold 6,775 shares of the firm's stock in a transaction on Friday, June 27th. The stock was 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 $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,308 shares of company stock valued at $3,574,755 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

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.

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