Hsbc Holdings PLC Has $259,000 Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Hsbc Holdings PLC lessened its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 41.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,811 shares of the industrial products company’s stock after selling 1,287 shares during the quarter. Hsbc Holdings PLC’s holdings in Powell Industries were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after buying an additional 79 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Powell Industries during the second quarter worth $47,000. Plato Investment Management Ltd bought a new position in Powell Industries during the first quarter worth $50,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Powell Industries in the second quarter valued at $140,000. Finally, Caxton Associates LP bought a new position in shares of Powell Industries in the first quarter valued at about $212,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Up 4.6 %

Shares of NASDAQ:POWL opened at $242.99 on Friday. Powell Industries, Inc. has a 12-month low of $72.51 and a 12-month high of $248.07. The business has a 50 day moving average of $175.79 and a 200-day moving average of $160.56. The stock has a market cap of $2.91 billion, a PE ratio of 29.09, a P/E/G ratio of 1.30 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $1.63. The business had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. Equities research analysts expect that Powell Industries, Inc. will post 12.01 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.44%. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction 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 sale, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,100 shares of company stock valued at $7,563,552. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Friday.

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.