Pacer Advisors Inc. Lowers Position in Powell Industries, Inc. (NASDAQ:POWL)

Pacer Advisors Inc. trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 23.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,353 shares of the industrial products company’s stock after selling 141,776 shares during the quarter. Pacer Advisors Inc. owned about 3.93% of Powell Industries worth $67,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Transform Wealth LLC grew its holdings in shares of Powell Industries by 25,920.5% during the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Powell Industries by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock worth $71,427,000 after buying an additional 9,177 shares in the last quarter. Vanguard Group Inc. grew its stake in Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after buying an additional 17,177 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Powell Industries by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after buying an additional 1,015 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the insider now directly owns 11,066 shares of the company’s stock, valued at $1,770,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the transaction, the chief executive officer now directly owns 145,987 shares of the company’s stock, valued at $23,711,208.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the insider now directly owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. The disclosure for this sale can be found here. Insiders sold 13,100 shares of company stock valued at $2,224,552 over the last three months. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th.

Powell Industries Trading Up 7.0 %

Shares of Powell Industries stock opened at $206.34 on Friday. The firm has a market capitalization of $2.47 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. Powell Industries, Inc. has a 12 month low of $72.51 and a 12 month high of $209.14. The business’s 50-day moving average price is $160.47 and its 200-day moving average price is $156.61.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. The business had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the business earned $1.52 earnings per share. As a group, analysts predict that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is presently 12.59%.

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.