Franklin Resources Inc. Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Franklin Resources Inc. decreased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,444 shares of the industrial products company's stock after selling 3,654 shares during the period. Franklin Resources Inc. owned about 0.14% of Powell Industries worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Powell Industries during the third quarter valued at $30,038,000. Raymond James Financial Inc. purchased a new position in shares of Powell Industries during the 4th quarter valued at about $22,556,000. WCM Investment Management LLC purchased a new position in shares of Powell Industries during the 4th quarter valued at about $14,261,000. Sanctuary Advisors LLC bought a new position in shares of Powell Industries during the 3rd quarter valued at approximately $12,176,000. Finally, Cibc World Market Inc. increased its holdings in Powell Industries by 438.8% in the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company's stock worth $13,464,000 after acquiring an additional 49,471 shares in the last quarter. Institutional investors own 89.77% of the company's stock.

Powell Industries Price Performance

Shares of POWL stock traded down $1.76 during trading hours on Thursday, hitting $165.19. The stock had a trading volume of 48,175 shares, compared to its average volume of 433,010. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The stock's 50-day moving average price is $178.93 and its two-hundred day moving average price is $232.86.

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 (EPS) 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%. As a group, equities research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost 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 payout ratio is currently 8.12%.

Analyst Ratings Changes

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

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.