Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 49.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,134 shares of the industrial products company's stock after selling 3,080 shares during the quarter. Valmark Advisers Inc.'s holdings in Powell Industries were worth $534,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Demars Financial Group LLC acquired a new stake in shares of Powell Industries in the 1st quarter valued at $58,692,000. Invesco Ltd. raised its holdings 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 valued at $58,768,000 after purchasing an additional 151,850 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Powell Industries by 22,009.7% in the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after purchasing an additional 101,905 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Powell Industries in the 4th quarter valued at $22,556,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Powell Industries by 795.9% in the 4th quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company's stock valued at $18,135,000 after purchasing an additional 72,686 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Powell Industries stock traded up $13.55 during midday trading on Friday, hitting $212.92. 633,479 shares of the company's stock were exchanged, compared to its average volume of 420,855. Powell Industries, Inc. has a 12-month low of $127.01 and a 12-month high of $364.98. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. The firm's 50 day simple moving average is $182.61 and its 200 day simple moving average is $199.19.

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

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, May 21st. Powell Industries's payout ratio is 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.

Insider Activity

In related news, EVP Michael William Metcalf sold 200 shares of the business's stock in a transaction dated 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 owns 35,354 shares of the company's stock, valued at approximately $7,070,800. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Alan Cope sold 780 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $200.00, for a total transaction of $156,000.00. Following the sale, the chief executive officer now directly owns 157,345 shares in the company, valued at approximately $31,469,000. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. 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.