HighTower Advisors LLC Decreases Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

HighTower Advisors LLC reduced its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 50.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,001 shares of the industrial products company's stock after selling 4,145 shares during the quarter. HighTower Advisors LLC's holdings in Powell Industries were worth $887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Powell Industries during the fourth quarter valued at $26,000. Quest Partners LLC purchased a new position in shares of Powell Industries during the 3rd quarter valued at about $35,000. Smartleaf Asset Management LLC grew its stake in shares of Powell Industries by 455.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 132 shares during the period. Blue Trust Inc. purchased a new stake in Powell Industries in the 4th quarter worth approximately $40,000. Finally, SBI Securities Co. Ltd. bought a new stake in Powell Industries during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Stock Performance

Shares of Powell Industries stock traded down $6.39 on Monday, hitting $170.33. 393,389 shares of the company traded hands, compared to its average volume of 426,921. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98. The business has a 50-day simple moving average of $202.04 and a 200 day simple moving average of $236.10. The stock has a market capitalization of $2.06 billion, a P/E ratio of 12.93, 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 announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. Research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current 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 was Wednesday, February 19th. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a yield of 0.63%. Powell Industries's dividend payout ratio is presently 8.12%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Roth Capital upgraded 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 report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective on the stock.

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.