Rhumbline Advisers Cuts Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Rhumbline Advisers decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,181 shares of the industrial products company’s stock after selling 2,066 shares during the period. Rhumbline Advisers’ holdings in Powell Industries were worth $3,754,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in POWL. GAMMA Investing LLC grew its position in Powell Industries by 38.2% in 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 in the last quarter. Picton Mahoney Asset Management purchased a new position in Powell Industries in the second quarter worth about $47,000. Plato Investment Management Ltd purchased a new position in Powell Industries in the first quarter worth about $50,000. Diversified Trust Co purchased a new position in Powell Industries in the first quarter worth about $212,000. Finally, Caxton Associates LP purchased a new position in shares of Powell Industries during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $170.12 on Tuesday. Powell Industries, Inc. has a 1 year low of $72.51 and a 1 year high of $209.14. The business has a 50 day simple moving average of $156.63 and a two-hundred day simple moving average of $156.14. The firm has a market capitalization of $2.04 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $222.18 million. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. Equities research analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, August 14th. Powell Industries’s dividend payout ratio is presently 12.59%.

Insider Activity

In other news, insider Robert B. Callahan sold 1,000 shares of Powell Industries stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the sale, the insider now owns 11,066 shares of the company’s stock, valued at $1,770,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the completion of the transaction, the chief executive officer now owns 145,987 shares of the company’s stock, valued at $23,711,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert B. Callahan sold 1,000 shares of Powell Industries stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,100 shares of company stock valued at $2,224,552. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Powell Industries Company 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.