Alliancebernstein L.P. Sells 13,684 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Alliancebernstein L.P. reduced its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,241 shares of the industrial products company's stock after selling 13,684 shares during the quarter. Alliancebernstein L.P. owned about 0.18% of Powell Industries worth $4,930,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hanseatic Management Services Inc. acquired a new position in shares of Powell Industries during the fourth quarter worth approximately $248,000. Merit Financial Group LLC raised its stake in Powell Industries by 103.9% during the 4th quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company's stock valued at $1,091,000 after purchasing an additional 2,508 shares during the last quarter. Bay Rivers Group boosted its holdings in Powell Industries by 105.4% in the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company's stock valued at $508,000 after purchasing an additional 1,177 shares during the period. JPMorgan Chase & Co. grew its position in Powell Industries by 101.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock worth $5,962,000 after purchasing an additional 13,531 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Powell Industries during the 4th quarter worth about $251,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Price Performance

Shares of POWL traded up $0.29 on Friday, reaching $167.24. 206,682 shares of the stock traded hands, compared to its average volume of 435,393. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a 12 month low of $126.80 and a 12 month high of $364.98. The stock's 50-day moving average price is $177.01 and its 200-day moving average price is $232.06.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were paid a dividend of $0.2675 per share. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.64%. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

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.