Dana Investment Advisors Inc. Sells 3,049 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Dana Investment Advisors Inc. trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,962 shares of the industrial products company's stock after selling 3,049 shares during the quarter. Dana Investment Advisors Inc. owned about 0.07% of Powell Industries worth $1,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWL. Wellington Management Group LLP purchased a new position in Powell Industries during the third quarter worth about $30,038,000. Victory Capital Management Inc. grew its position in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after buying an additional 90,504 shares in the last quarter. WCM Investment Management LLC bought a new stake in Powell Industries during the fourth quarter worth about $14,261,000. Sanctuary Advisors LLC bought a new stake in Powell Industries during the third quarter worth about $12,176,000. Finally, Cibc World Market Inc. lifted its stake in Powell Industries by 438.8% during the fourth quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company's stock worth $13,464,000 after purchasing an additional 49,471 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Up 3.5 %

Shares of NASDAQ POWL traded up $5.50 during midday trading on Friday, reaching $162.86. The company had a trading volume of 463,584 shares, compared to its average volume of 540,398. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The firm's fifty day moving average price is $221.56 and its 200-day moving average price is $234.35. The stock has a market cap of $1.96 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83.

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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, 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%. As a group, equities research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's payout ratio is 8.12%.

Analyst Ratings Changes

POWL has been the subject of several research analyst reports. StockNews.com lowered Powell Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Roth Capital raised Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They set a "buy" rating and a $312.00 price target for the company.

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.