Sei Investments Co. Cuts Position in Powell Industries, Inc. (NASDAQ:POWL)

Sei Investments Co. lowered its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 60.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,562 shares of the industrial products company’s stock after selling 9,850 shares during the quarter. Sei Investments Co. owned approximately 0.05% of Powell Industries worth $941,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the period. Diversified Trust Co raised its position in shares of Powell Industries by 8.7% during the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 129 shares during the last quarter. WINTON GROUP Ltd raised its position 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 worth $893,000 after purchasing an additional 174 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Powell Industries by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after buying an additional 175 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Powell Industries by 1.1% in the 1st quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock worth $2,689,000 after buying an additional 200 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 in the company, valued at approximately $145,704,513.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,100 shares of company stock worth $7,563,552 in the last quarter. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries Stock Up 1.2 %

Powell Industries stock opened at $246.01 on Tuesday. The company has a fifty day simple moving average of $180.03 and a 200-day simple moving average of $162.18. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.33 and a beta of 0.88. Powell Industries, Inc. has a 52-week low of $72.51 and a 52-week high of $254.09.

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

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is currently 12.59%.

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.