Dimensional Fund Advisors LP Decreases Stake in Powell Industries, Inc. (NASDAQ:POWL)

Dimensional Fund Advisors LP decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 6.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 647,827 shares of the industrial products company’s stock after selling 44,677 shares during the quarter. Dimensional Fund Advisors LP owned 0.05% of Powell Industries worth $92,898,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd lifted its holdings in shares of Powell Industries by 2.9% during the 2nd quarter. WINTON GROUP Ltd now owns 6,224 shares of the industrial products company’s stock valued at $893,000 after acquiring an additional 174 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Powell Industries during the second quarter worth about $6,713,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Powell Industries in the second quarter worth about $302,000. American Century Companies Inc. grew its stake in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after buying an additional 35,818 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Powell Industries by 8.1% in the second quarter. Texas Permanent School Fund Corp now owns 8,717 shares of the industrial products company’s stock valued at $1,250,000 after buying an additional 652 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the transaction, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert B. Callahan sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 11,066 shares of the company’s stock, valued at $1,770,560. The disclosure for this sale can be found here. Insiders have sold a total of 13,100 shares of company stock valued at $2,224,552 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Tuesday.

Powell Industries Trading Up 0.7 %

Shares of POWL stock opened at $218.31 on Wednesday. The firm has a fifty day simple moving average of $163.47 and a 200-day simple moving average of $157.49. The company has a market capitalization of $2.62 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. Powell Industries, Inc. has a twelve month low of $72.51 and a twelve month high of $223.23.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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 company had revenue of $288.17 million during the quarter, compared to analysts’ expectations of $222.18 million. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities research analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.49%. Powell Industries’s dividend payout ratio is presently 12.59%.

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.