Guidance Capital Inc. Decreases Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Guidance Capital Inc. decreased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,030 shares of the industrial products company’s stock after selling 688 shares during the quarter. Guidance Capital Inc.’s holdings in Powell Industries were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of POWL. Ausbil Investment Management Ltd purchased a new stake in Powell Industries during the first quarter valued at $631,000. Diversified Trust Co purchased a new stake in shares of Powell Industries in the first quarter valued at $212,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $4,448,000 after acquiring an additional 25,789 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Powell Industries in the first quarter valued at $493,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of 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.

Powell Industries Price Performance

Shares of POWL traded down $7.80 during midday trading on Wednesday, hitting $259.29. The stock had a trading volume of 225,468 shares, compared to its average volume of 366,979. Powell Industries, Inc. has a 1 year low of $72.80 and a 1 year high of $284.45. The firm has a market cap of $3.11 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The stock’s 50 day moving average is $203.33 and its 200 day moving average is $171.99.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate of $2.16 by $1.63. The company had revenue of $288.17 million for 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%. The firm’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. As a group, equities research analysts expect 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. Investors of record on Wednesday, August 14th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.41%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio is presently 9.92%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Powell Industries news, 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 transaction of $160,000.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,350 shares of company stock valued at $14,774,341 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 4th.

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.