Thrivent Financial for Lutherans Trims Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Thrivent Financial for Lutherans trimmed its stake in Powell Industries, Inc. (NASDAQ:POWL) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,663 shares of the industrial products company’s stock after selling 332 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Powell Industries worth $1,099,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in POWL. Transform Wealth LLC raised its stake in shares of Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $6,713,000. American Century Companies Inc. raised its stake 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 valued at $39,347,000 after acquiring an additional 35,818 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Powell Industries by 471.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock valued at $4,448,000 after purchasing an additional 25,789 shares in the last quarter. Finally, Spirepoint Private Client LLC acquired a new position in shares of Powell Industries in the first quarter valued at approximately $3,533,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

Shares of POWL stock opened at $242.99 on Friday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.30 and a beta of 0.88. The company has a 50 day moving average price of $177.86 and a 200 day moving average price of $161.18. Powell Industries, Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $248.07.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. The firm had revenue of $288.17 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 earnings per share. On average, research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the transaction, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,100 shares of company stock worth $7,563,552 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Friday.

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.