Candelo Capital Management LP Cuts Position in Powell Industries, Inc. (NASDAQ:POWL)

Candelo Capital Management LP cut its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 44.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,007 shares of the industrial products company's stock after selling 7,066 shares during the period. Powell Industries makes up about 1.0% of Candelo Capital Management LP's investment portfolio, making the stock its 22nd largest holding. Candelo Capital Management LP owned about 0.07% of Powell Industries worth $1,996,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stifel Financial Corp purchased a new stake in Powell Industries during the third quarter valued at approximately $261,000. Barclays PLC increased its stake in Powell Industries by 198.1% during the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock worth $13,536,000 after acquiring an additional 40,515 shares during the last quarter. Invst LLC raised its holdings in Powell Industries by 18.5% during the 3rd quarter. Invst LLC now owns 4,977 shares of the industrial products company's stock valued at $1,105,000 after buying an additional 776 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Powell Industries in the third quarter valued at $2,366,000. Finally, Franklin Resources Inc. raised its position in Powell Industries by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company's stock worth $4,462,000 after purchasing an additional 497 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Price Performance

POWL stock opened at $165.85 on Wednesday. The business has a 50-day moving average price of $175.05 and a 200 day moving average price of $231.02. Powell Industries, Inc. has a 1-year low of $127.01 and a 1-year high of $364.98. The company has a market capitalization of $2.00 billion, a P/E ratio of 12.59, a PEG ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping 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%. On average, analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a $0.2675 dividend. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 19th. 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 presently 8.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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.

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