Triasima Portfolio Management inc. Sells 6,590 Shares of Powell Industries, Inc. $POWL

Triasima Portfolio Management inc. decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 85.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,129 shares of the industrial products company’s stock after selling 6,590 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Powell Industries were worth $208,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Powell Industries by 3.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,009 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 34 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Powell Industries by 5.4% in the first quarter. Wealthfront Advisers LLC now owns 697 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 36 shares during the period. KBC Group NV lifted its position in shares of Powell Industries by 15.6% during the 1st quarter. KBC Group NV now owns 303 shares of the industrial products company’s stock valued at $164,000 after buying an additional 41 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Powell Industries by 92.9% during the 2nd quarter. Anchor Investment Management LLC now owns 135 shares of the industrial products company’s stock valued at $39,000 after buying an additional 65 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Powell Industries by 183.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL stock traded down $5.68 during trading on Friday, hitting $165.14. The stock had a trading volume of 1,183,558 shares, compared to its average volume of 583,427. Powell Industries, Inc. has a twelve month low of $92.59 and a twelve month high of $328.00. The company’s 50-day moving average price is $188.41 and its two-hundred day moving average price is $232.09. The stock has a market capitalization of $6.02 billion, a P/E ratio of 31.70, a PEG ratio of 1.78 and a beta of 1.17.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.96 EPS. As a group, sell-side analysts expect that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Powell Industries’s payout ratio is presently 6.91%.

Wall Street Analyst Weigh In

POWL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday. Cantor Fitzgerald restated a “neutral” rating and set a $235.00 price objective on shares of Powell Industries in a research report on Thursday, October 1st. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.92.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Cope sold 4,799 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $900,628.33. Following the transaction, the chief executive officer owned 507,934 shares in the company, valued at approximately $95,323,973.78. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP William Marshall Mauney, Jr. sold 301 shares of Powell Industries stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the sale, the vice president directly owned 10,552 shares in the company, valued at approximately $1,980,293.84. This trade represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by insiders.

Powell Industries Company Profile

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.