Royce & Associates LP lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,193 shares of the industrial products company's stock after selling 2,265 shares during the period. Royce & Associates LP owned 0.60% of Powell Industries worth $16,002,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new stake in shares of Powell Industries during the 3rd quarter worth about $7,225,000. Victory Capital Management Inc. lifted its stake in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after purchasing an additional 90,504 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in Powell Industries by 34.8% during the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock worth $2,430,000 after purchasing an additional 2,827 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Powell Industries by 5.7% during the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after purchasing an additional 2,793 shares during the last quarter. Finally, Hanseatic Management Services Inc. purchased a new stake in Powell Industries in the fourth quarter valued at approximately $248,000. 89.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Finally, Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price on the stock.
Read Our Latest Report on POWL
Powell Industries Trading Down 0.1 %
Shares of NASDAQ:POWL traded down $0.15 on Thursday, hitting $181.36. The company had a trading volume of 225,868 shares, compared to its average volume of 413,448. 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 moving average of $211.75 and a 200 day moving average of $234.04. The company has a market cap of $2.19 billion, a PE ratio of 13.77, a PEG ratio of 0.98 and a beta of 0.83.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share 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 analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 19th. Powell Industries's dividend payout ratio (DPR) is 8.12%.
Powell Industries Profile
(
Free Report)
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.
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