Ausbil Investment Management Ltd Sells 3,336 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Ausbil Investment Management Ltd lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 14.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,833 shares of the industrial products company’s stock after selling 3,336 shares during the quarter. Powell Industries comprises 1.3% of Ausbil Investment Management Ltd’s portfolio, making the stock its 23rd largest holding. Ausbil Investment Management Ltd’s holdings in Powell Industries were worth $4,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of POWL. Transform Wealth LLC increased its holdings in 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 valued at $240,075,000 after purchasing an additional 1,667,728 shares during the period. Vanguard Group Inc. grew its stake in shares of Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after buying an additional 17,177 shares during the last quarter. American Century Companies Inc. raised its position in shares of Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Powell Industries by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after buying an additional 1,015 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Powell Industries in the 2nd quarter worth $11,658,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total value of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares in the company, valued at approximately $23,711,208.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,350 shares of company stock valued at $14,774,341 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday.

Powell Industries Trading Down 1.5 %

Shares of NASDAQ POWL traded down $3.86 during midday trading on Thursday, hitting $251.31. The company’s stock had a trading volume of 88,501 shares, compared to its average volume of 367,156. The business’s 50 day moving average is $205.30 and its two-hundred day moving average is $172.57. The firm has a market cap of $3.01 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. Powell Industries, Inc. has a 12-month low of $72.80 and a 12-month high of $284.45.

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

Powell Industries Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is presently 12.59%.

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.