Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,055 shares of the industrial products company's stock after selling 72,705 shares during the period. Arrowstreet Capital Limited Partnership owned 1.25% of Powell Industries worth $33,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in POWL. Wellington Management Group LLP purchased a new stake in shares of Powell Industries in the 3rd quarter valued at about $30,038,000. Raymond James Financial Inc. purchased a new stake in Powell Industries in the fourth quarter valued at approximately $22,556,000. WCM Investment Management LLC purchased a new stake in Powell Industries in the fourth quarter valued at approximately $14,261,000. Sanctuary Advisors LLC acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $12,176,000. Finally, Cibc World Market Inc. grew its position in shares of 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 acquiring an additional 49,471 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on POWL shares. 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 target for the company. StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Finally, Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th.

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Powell Industries Stock Up 2.7 %

Shares of NASDAQ POWL traded up $4.36 during mid-day trading on Monday, hitting $168.81. 674,260 shares of the company were exchanged, compared to its average volume of 430,146. The stock has a 50 day simple moving average of $190.73 and a 200-day simple moving average of $235.91. Powell Industries, Inc. has a 1-year low of $122.00 and a 1-year high of $364.98. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating 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%. Analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders 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 yield of 0.63%. Powell Industries's payout ratio is presently 8.12%.

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.