Gallacher Capital Management LLC Lowers Position in Powell Industries, Inc. (NASDAQ:POWL)

Gallacher Capital Management LLC cut its stake in Powell Industries, Inc. (NASDAQ:POWL) by 15.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,149 shares of the industrial products company’s stock after selling 205 shares during the quarter. Gallacher Capital Management LLC’s holdings in Powell Industries were worth $255,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of POWL. Principal Financial Group Inc. lifted its holdings in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after buying an additional 2,793 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Powell Industries during the third quarter valued at approximately $201,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Powell Industries during the third quarter valued at approximately $575,000. Victory Capital Management Inc. lifted its holdings in shares of 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 valued at $21,886,000 after purchasing an additional 90,504 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Powell Industries by 64.3% during the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 126 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on POWL shares. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Up 4.0 %

Shares of NASDAQ POWL opened at $173.36 on Monday. Powell Industries, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98. The firm has a market cap of $2.09 billion, a P/E ratio of 13.16, a PEG ratio of 0.98 and a beta of 0.83. The company has a 50 day moving average of $215.24 and a 200 day moving average of $234.20.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be issued a $0.2675 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, February 19th. 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.