Globeflex Capital L P Sells 22,618 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Globeflex Capital L P cut its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 37.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,044 shares of the industrial products company’s stock after selling 22,618 shares during the period. Globeflex Capital L P’s holdings in Powell Industries were worth $8,211,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P bought a new position in shares of Powell Industries during the 3rd quarter valued at about $7,225,000. Victory Capital Management Inc. grew its position in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after acquiring an additional 90,504 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Powell Industries by 34.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock worth $2,430,000 after acquiring an additional 2,827 shares during the last quarter. Principal Financial Group Inc. grew its position in Powell Industries by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after acquiring an additional 2,793 shares during the last quarter. Finally, Hanseatic Management Services Inc. bought a new position in Powell Industries during the 4th quarter worth approximately $248,000. 89.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

POWL has been the topic of several recent research reports. Roth Mkm initiated coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Stock Performance

NASDAQ POWL opened at $173.36 on Friday. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The stock has a 50 day simple moving average of $215.24 and a two-hundred day simple moving average of $233.36. The stock has a market cap of $2.09 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data 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%. Sell-side analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is 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 presently 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.