Bank of New York Mellon Corp lowered its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,793 shares of the industrial products company's stock after selling 11,220 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Powell Industries worth $17,908,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Powell Industries during the fourth quarter worth about $26,000. Quest Partners LLC purchased a new stake in shares of Powell Industries during the third quarter worth about $35,000. Blue Trust Inc. bought a new position in Powell Industries during the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC boosted its stake in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after buying an additional 105 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Powell Industries Stock Up 3.3 %
POWL opened at $163.49 on Wednesday. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98. The stock's fifty day moving average is $219.02 and its two-hundred day moving average is $234.43. The company has a market capitalization of $1.97 billion, a P/E ratio of 12.41, a PEG ratio of 0.98 and a beta of 0.84.
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 analysts' consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. Equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.
Powell Industries Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. The ex-dividend date is Wednesday, February 19th. This is an increase from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.65%. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on POWL. Roth Capital raised Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective for the company.
Get Our Latest Stock Report on Powell Industries
Powell Industries Company Profile
(
Free Report)
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.
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