Powell Industries, Inc. (NASDAQ:POWL) Position Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,953 shares of the industrial products company’s stock after selling 56 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Powell Industries were worth $503,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Powell Industries by 93.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company’s stock valued at $675,000 after buying an additional 1,858 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Powell Industries by 2.8% in the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company’s stock worth $9,465,000 after purchasing an additional 1,509 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Powell Industries by 11.4% during the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 137 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Powell Industries by 29.8% during the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 138 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Powell Industries by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock worth $20,942,000 after purchasing an additional 637 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

POWL stock opened at $217.60 on Thursday. The stock has a market cap of $2.63 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 0.77. The firm has a 50 day simple moving average of $190.94 and a 200 day simple moving average of $197.12. Powell Industries, Inc. has a 52 week low of $127.01 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping the consensus estimate of $3.34 by $0.47. The business had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $2.75 earnings per share. Sell-side analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, May 21st. Powell Industries’s dividend payout ratio is currently 7.52%.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares of the company’s stock, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the transaction, the chief executive officer directly owned 147,471 shares in the company, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,308 shares of company stock valued at $3,574,755. 2.20% of the stock is currently owned by corporate insiders.

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.