Valmark Advisers Inc. Lowers Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Valmark Advisers Inc. trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 49.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,134 shares of the industrial products company's stock after selling 3,080 shares during the period. Valmark Advisers Inc.'s holdings in Powell Industries were worth $534,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock valued at $152,508,000 after purchasing an additional 24,997 shares during the last quarter. American Century Companies Inc. raised its holdings in Powell Industries by 8.3% in the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock worth $77,965,000 after acquiring an additional 27,029 shares during the last quarter. Demars Financial Group LLC purchased a new position in Powell Industries in the 1st quarter worth approximately $58,692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Powell Industries by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock worth $66,023,000 after acquiring an additional 16,002 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in 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 acquiring an additional 151,850 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 780 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $200.00, for a total transaction of $156,000.00. Following the completion of the sale, the chief executive officer now owns 157,345 shares of the company's stock, valued at $31,469,000. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael William Metcalf sold 200 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $200.00, for a total transaction of $40,000.00. Following the sale, the executive vice president now directly owns 35,354 shares of the company's stock, valued at approximately $7,070,800. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Up 4.4%

Shares of NASDAQ POWL opened at $188.47 on Wednesday. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The firm has a market cap of $2.27 billion, a P/E ratio of 13.24, a PEG ratio of 0.91 and a beta of 0.72. The company has a 50 day moving average of $180.59 and a 200 day moving average of $200.40.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The business had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. During the same quarter in the previous year, the firm posted $2.75 EPS. The firm's revenue was up 9.2% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a report 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.

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