Ausbil Investment Management Ltd Reduces Stake in Powell Industries, Inc. (NASDAQ:POWL)

Ausbil Investment Management Ltd lessened its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,833 shares of the industrial products company's stock after selling 3,336 shares during the quarter. Powell Industries comprises about 1.3% of Ausbil Investment Management Ltd's holdings, making the stock its 23rd largest holding. Ausbil Investment Management Ltd owned 0.17% of Powell Industries worth $4,403,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Guidance Capital Inc. purchased a new position in Powell Industries during the first quarter worth about $674,000. Diversified Trust Co acquired a new position in Powell Industries in the first quarter valued at approximately $212,000. Allspring Global Investments Holdings LLC grew its position in Powell Industries by 471.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company's stock worth $4,448,000 after acquiring an additional 25,789 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Powell Industries during the first quarter worth $493,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Powell Industries in the first quarter valued at $1,628,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company's stock, valued at approximately $145,704,513.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction 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 $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 through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the 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 in the company, valued at $1,770,560. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,350 shares of company stock valued at $14,774,341. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

Shares of Powell Industries stock traded down $5.46 on Thursday, reaching $249.71. The company had a trading volume of 292,116 shares, compared to its average volume of 368,144. The firm has a market cap of $2.99 billion, a PE ratio of 23.36, a PEG ratio of 1.53 and a beta of 0.88. The firm's 50 day moving average price is $205.30 and its two-hundred day moving average price is $172.57. Powell Industries, Inc. has a 52-week low of $72.80 and a 52-week high of $284.45.

Powell Industries (NASDAQ:POWL - Get Free Report) 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 business had revenue of $288.17 million during the quarter, compared to analysts' expectations of $222.18 million. During the same period 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. As a group, sell-side analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.265 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.42%. Powell Industries's dividend payout ratio is presently 9.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Wednesday.

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.