Teacher Retirement System of Texas Lowers Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Teacher Retirement System of Texas lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 66.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,173 shares of the industrial products company’s stock after selling 6,302 shares during the quarter. Teacher Retirement System of Texas’ holdings in Powell Industries were worth $540,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Demars Financial Group LLC acquired a new position in Powell Industries in the 1st quarter valued at $58,692,000. Invesco Ltd. lifted its stake in shares of Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company’s stock worth $58,768,000 after acquiring an additional 151,850 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Powell Industries by 22,009.7% in the first quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company’s stock valued at $17,436,000 after acquiring an additional 101,905 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Powell Industries during the fourth quarter worth about $22,556,000. Finally, BNP Paribas Financial Markets raised its holdings in Powell Industries by 795.9% during the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock worth $18,135,000 after purchasing an additional 72,686 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Trading Up 3.1%

Shares of POWL opened at $217.60 on Thursday. The stock’s 50 day moving average is $190.94 and its two-hundred day moving average is $197.12. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The firm has a market capitalization of $2.63 billion, a PE ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 0.77.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. The firm had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. During the same quarter in the prior year, the company posted $2.75 earnings per share. Powell Industries’s quarterly revenue was up 9.2% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.2675 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.49%. Powell Industries’s payout ratio is currently 7.52%.

Insider Activity

In related news, CEO Brett Alan Cope sold 6,775 shares of Powell Industries 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 completion of the transaction, the chief executive officer directly owned 147,471 shares of the company’s stock, valued at approximately $31,050,019.05. The trade was a 4.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the sale, the executive vice president owned 28,900 shares in the company, valued at $6,084,895. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,308 shares of company stock worth $3,574,755 over the last 90 days. 2.20% of the stock is currently owned by company 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.