Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 53.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,035 shares of the industrial products company's stock after selling 178,300 shares during the period. Renaissance Technologies LLC owned approximately 1.31% of Powell Industries worth $35,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in POWL. Sei Investments Co. grew its stake 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 valued at $631,000 after acquiring an additional 85 shares in the last quarter. PNC Financial Services Group Inc. grew its stake 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. Prestige Wealth Management Group LLC increased its holdings in Powell Industries by 100.0% during the 4th 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. Swiss National Bank increased its holdings in Powell Industries by 0.5% during the 4th 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 during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Powell Industries by 6.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Price Performance

NASDAQ:POWL traded down $0.14 during mid-day trading on Thursday, reaching $166.81. The stock had a trading volume of 69,173 shares, compared to its average volume of 476,388. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a 1-year low of $123.04 and a 1-year high of $364.98. The stock's 50 day simple moving average is $178.93 and its two-hundred day simple moving average is $232.86.

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 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%. Sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS 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 issued a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.64%. This is a boost from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.

Powell Industries Company 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.