Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 413,835 shares of the industrial products company’s stock after selling 56,500 shares during the period. Renaissance Technologies LLC’s holdings in Powell Industries were worth $59,344,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of POWL. Transform Wealth LLC lifted its position in shares of Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Powell Industries in the second quarter valued at $6,713,000. American Century Companies Inc. lifted its holdings in Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Powell Industries by 471.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after acquiring an additional 25,789 shares in the last quarter. Finally, Spirepoint Private Client LLC purchased a new position in shares of Powell Industries in the 1st quarter valued at about $3,533,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In other news, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 11,066 shares of the company’s stock, valued at $1,770,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Powell Industries news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the insider now directly owns 11,066 shares in the company, valued at approximately $1,770,560. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,100 shares of company stock worth $2,224,552. 2.20% of the stock is owned by insiders.

Powell Industries Trading Up 2.5 %

Shares of Powell Industries stock opened at $174.44 on Wednesday. The company has a fifty day simple moving average of $156.63 and a 200-day simple moving average of $156.14. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 0.99 and a beta of 0.87. Powell Industries, Inc. has a 12-month low of $72.51 and a 12-month high of $209.14.

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

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Analysts Set New Price Targets

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

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.