AQR Capital Management LLC Sells 17,026 Shares of Powell Industries, Inc. $POWL

AQR Capital Management LLC lowered its stake in Powell Industries, Inc. (NASDAQ:POWL) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,288 shares of the industrial products company’s stock after selling 17,026 shares during the period. AQR Capital Management LLC owned 0.38% of Powell Industries worth $7,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in Powell Industries during the first quarter worth about $25,000. Brooklyn Investment Group raised its stake in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 197 shares during the period. AlphaQuest LLC lifted its holdings in Powell Industries by 472.0% in the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 354 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Powell Industries by 29.8% in the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 138 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Powell Industries

In related news, Director John Birchall sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, the director owned 6,700 shares of the company’s stock, valued at $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Alan Cope sold 6,775 shares of the company’s stock in a transaction 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 sale, 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 ninety days, insiders sold 20,308 shares of company stock valued at $4,354,845. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Price Performance

NASDAQ:POWL opened at $292.40 on Friday. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $364.98. The business has a fifty day moving average price of $245.33 and a 200-day moving average price of $202.18. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.37 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company had revenue of $286.27 million for the quarter, compared to analysts’ expectations of $301.69 million. During the same quarter in the previous year, the company earned $3.79 EPS. Powell Industries’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.43%.

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.