Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,177 shares of the industrial products company’s stock after selling 981 shares during the quarter. Assetmark Inc. owned about 0.09% of Powell Industries worth $2,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Powell Industries by 0.9% in the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares in the last quarter. Geode Capital Management LLC lifted its stake in Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after buying an additional 9,692 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Powell Industries in the third quarter valued at approximately $30,038,000. Victory Capital Management Inc. lifted its stake in Powell Industries by 1,119.3% in 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 buying an additional 90,504 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Powell Industries by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock valued at $20,942,000 after buying an additional 637 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Price Performance

Powell Industries stock opened at $162.86 on Monday. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The business has a 50 day simple moving average of $221.56 and a 200-day simple moving average of $234.78. The stock has a market capitalization of $1.96 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS 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 research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is 8.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on POWL shares. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company.

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.