Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 74.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,446 shares of the industrial products company's stock after selling 16,228 shares during the quarter. Russell Investments Group Ltd.'s holdings in Powell Industries were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp bought a new position in Powell Industries during the 3rd quarter valued at about $261,000. Barclays PLC lifted its stake in shares of Powell Industries by 198.1% during the 3rd quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock worth $13,536,000 after acquiring an additional 40,515 shares during the last quarter. Geode Capital Management LLC grew its position in Powell Industries by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company's stock valued at $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Invst LLC increased its stake in Powell Industries by 18.5% in the third quarter. Invst LLC now owns 4,977 shares of the industrial products company's stock worth $1,105,000 after purchasing an additional 776 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Powell Industries during the third quarter valued at approximately $2,366,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th.

Powell Industries Trading Up 5.3 %

Shares of POWL stock traded up $8.82 during trading hours on Wednesday, reaching $174.67. 316,251 shares of the company's stock were exchanged, compared to its average volume of 433,939. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The stock's 50 day moving average is $175.05 and its 200-day moving average is $231.02. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.15% and a return on equity of 35.48%. Equities analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, February 19th. This is a boost from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is 8.12%.

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.