Allspring Global Investments Holdings LLC Sells 3,681 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Allspring Global Investments Holdings LLC decreased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 65.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,980 shares of the industrial products company's stock after selling 3,681 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Powell Industries were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Savant Capital LLC raised its position in Powell Industries by 2.7% during the fourth quarter. Savant Capital LLC now owns 6,848 shares of the industrial products company's stock worth $1,518,000 after acquiring an additional 177 shares in the last quarter. Liberty Capital Management Inc. acquired a new position in Powell Industries in the 4th quarter valued at about $563,000. Kestra Private Wealth Services LLC increased its stake in shares of Powell Industries by 20.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,796 shares of the industrial products company's stock worth $841,000 after purchasing an additional 638 shares during the period. Stephens Investment Management Group LLC grew its holdings in Powell Industries by 17.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 72,016 shares of the industrial products company's stock valued at $15,962,000 after buying an additional 10,725 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in Powell Industries during the 4th quarter worth $14,261,000. Institutional investors own 89.77% of the company's stock.

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Analyst Upgrades and Downgrades

POWL has been the subject of a number of recent research reports. Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price for the company. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a report on Sunday, February 23rd.

Powell Industries Stock Performance

Shares of Powell Industries stock traded up $4.23 on Friday, reaching $169.71. 530,611 shares of the stock were exchanged, compared to its average volume of 535,135. The firm's 50 day moving average is $230.47 and its 200-day moving average is $234.11. The firm has a market cap of $2.05 billion, a PE ratio of 12.89, a P/E/G ratio of 0.98 and a beta of 0.87. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98.

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

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. This is an increase from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 annualized dividend and a yield of 0.63%. Powell Industries's payout ratio is presently 8.12%.

Powell Industries 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.