Powell Industries, Inc. (NASDAQ:POWL) Stock Holdings Lessened by Globeflex Capital L P

Globeflex Capital L P cut its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 37.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,044 shares of the industrial products company's stock after selling 22,618 shares during the period. Globeflex Capital L P owned 0.31% of Powell Industries worth $8,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in POWL. Wellington Management Group LLP acquired a new stake in shares of Powell Industries in the 3rd quarter worth about $30,038,000. Raymond James Financial Inc. bought a new position in Powell Industries in the 4th quarter worth about $22,556,000. Victory Capital Management Inc. increased its stake in shares of Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after purchasing an additional 90,504 shares during the period. WCM Investment Management LLC bought a new stake in shares of Powell Industries during the fourth quarter valued at approximately $14,261,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Powell Industries during the third quarter valued at approximately $12,176,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Price Performance

Shares of Powell Industries stock traded up $0.01 on Wednesday, hitting $181.51. The company had a trading volume of 430,792 shares, compared to its average volume of 414,789. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98. The company has a market cap of $2.19 billion, a PE ratio of 13.78, a PEG ratio of 0.98 and a beta of 0.83. The business has a 50-day simple moving average of $212.71 and a 200-day simple moving average of $234.41.

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Powell Industries (NASDAQ:POWL - Get Free Report) last issued 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%. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be given a $0.2675 dividend. The ex-dividend date is Wednesday, February 19th. This is a boost from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a yield of 0.59%. Powell Industries's payout ratio is 8.12%.

Analyst Ratings Changes

POWL has been the topic of several analyst reports. StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Roth Capital raised Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They set a "buy" rating and a $312.00 price objective on the stock.

About Powell Industries

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.