Powell Industries, Inc. $POWL Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC reduced its stake in Powell Industries by 37.8% during the first quarter, now owning 11,588 shares valued at approximately $1.97 million.
• Institutional investors and hedge funds hold 89.77% of Powell Industries' stock, with notable increases in holdings by firms such as Price T Rowe Associates and Ameriprise Financial.
• Powell Industries recently announced a quarterly dividend of $0.2675 per share, with an ex-dividend date of August 20th, indicating a 0.4% yield.

Vident Advisory LLC trimmed its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 37.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,588 shares of the industrial products company's stock after selling 7,057 shares during the period. Vident Advisory LLC owned approximately 0.10% of Powell Industries worth $1,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new position in Powell Industries in the 1st quarter valued at $25,000. Brooklyn Investment Group boosted its position in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after purchasing an additional 108 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock worth $35,000 after purchasing an additional 197 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Powell Industries by 472.0% during the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock worth $73,000 after purchasing an additional 354 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Powell Industries by 29.8% during the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock worth $102,000 after purchasing an additional 138 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Price Performance

Shares of NASDAQ POWL traded down $2.49 during trading on Friday, hitting $268.24. 136,710 shares of the company were exchanged, compared to its average volume of 368,520. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.28 and a beta of 0.85. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98. The firm's fifty day moving average price is $238.98 and its 200 day moving average price is $199.08.

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

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, August 20th. Powell Industries's payout ratio is presently 7.43%.

Insiders Place Their Bets

In other Powell Industries news, Director John Birchall sold 3,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. The trade was a 30.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the business'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 sale, the chief executive officer owned 147,471 shares in the company, 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. In the last ninety days, insiders have sold 20,308 shares of company stock worth $4,354,845. 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.