Rhumbline Advisers Sells 2,066 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Rhumbline Advisers trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,181 shares of the industrial products company’s stock after selling 2,066 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Powell Industries worth $3,754,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Powell Industries by 1.2% in the 1st quarter. New York State Teachers Retirement System now owns 8,208 shares of the industrial products company’s stock worth $1,168,000 after purchasing an additional 100 shares in the last quarter. Diversified Trust Co lifted its position in Powell Industries by 8.7% in the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 129 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in Powell Industries by 4.6% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 142 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Powell Industries by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock valued at $1,148,000 after acquiring an additional 175 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Powell Industries Trading Up 1.1 %

Shares of POWL opened at $170.12 on Tuesday. The firm has a market cap of $2.04 billion, a PE ratio of 20.20, a P/E/G ratio of 0.99 and a beta of 0.87. The firm has a fifty day simple moving average of $156.63 and a two-hundred day simple moving average of $156.14. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $209.14.

Powell Industries (NASDAQ:POWL) last announced its earnings results 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 business had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. As a group, research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.62%. Powell Industries’s dividend payout ratio is presently 12.59%.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the insider now owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,100 shares of company stock worth $2,224,552. Insiders own 2.20% of the company’s stock.

About Powell Industries

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.