Jacobs Levy Equity Management Inc. Sells 3,414 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Jacobs Levy Equity Management Inc. lessened its position in Powell Industries, Inc. (NASDAQ:POWL) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,550 shares of the industrial products company’s stock after selling 3,414 shares during the period. Jacobs Levy Equity Management Inc. owned 0.86% of Powell Industries worth $14,735,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AJOVista LLC purchased a new stake in Powell Industries in the fourth quarter worth about $29,000. Invst LLC bought a new position in shares of Powell Industries during the fourth quarter valued at approximately $161,000. Private Trust Co. NA purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $192,000. Cornerstone Investment Partners LLC purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $206,000. Finally, Diversified Trust Co bought a new position in Powell Industries during the 1st quarter valued at approximately $212,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 32.5 %

Powell Industries stock traded up $43.35 during trading hours on Wednesday, hitting $176.60. The stock had a trading volume of 1,009,638 shares, compared to its average volume of 349,350. The stock has a market capitalization of $2.12 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88. The stock’s 50-day moving average price is $157.22 and its 200-day moving average price is $146.27. Powell Industries, Inc. has a 12-month low of $60.44 and a 12-month high of $209.14.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The company had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, research analysts expect that Powell Industries, Inc. will post 9.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the transaction, the insider now owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 20,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $205.87, for a total value of $4,117,400.00. Following the completion of the transaction, the insider now directly owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,650 shares of company stock worth $6,472,034. 2.20% of the stock is owned by corporate insiders.

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.