Geode Capital Management LLC Sells 32,791 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Geode Capital Management LLC lessened its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 224,258 shares of the industrial products company's stock after selling 32,791 shares during the period. Geode Capital Management LLC owned about 1.86% of Powell Industries worth $49,719,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in POWL. Sei Investments Co. increased its holdings in shares of Powell Industries by 3.1% during the fourth quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after buying an additional 85 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Powell Industries by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company's stock valued at $217,000 after purchasing an additional 90 shares in the last quarter. Swiss National Bank boosted its stake in Powell Industries by 0.5% in the fourth quarter. Swiss National Bank now owns 18,800 shares of the industrial products company's stock worth $4,167,000 after purchasing an additional 100 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Powell Industries by 6.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company's stock valued at $379,000 after buying an additional 109 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

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 Stock Up 0.2 %

NASDAQ:POWL traded up $0.29 during trading hours on Friday, hitting $167.24. 206,682 shares of the stock were exchanged, compared to its average volume of 435,683. The company's 50 day moving average is $177.01 and its two-hundred day moving average is $232.06. The company has a market capitalization of $2.02 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating 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 year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.64%. Powell Industries's payout ratio is currently 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.