Bailard Inc. Sells 1,000 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Bailard Inc. cut its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,061 shares of the industrial products company’s stock after selling 1,000 shares during the period. Bailard Inc.’s holdings in Powell Industries were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Cumberland Partners Ltd acquired a new position in Powell Industries during the third quarter worth approximately $555,000. Loomis Sayles & Co. L P acquired a new position in shares of Powell Industries during the 3rd quarter worth approximately $7,225,000. Victory Capital Management Inc. increased its holdings in shares of 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. raised its stake in Powell Industries by 34.8% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock valued at $2,430,000 after acquiring an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings 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 valued at $11,434,000 after purchasing an additional 2,793 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on POWL shares. StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $160.76 on Thursday. The firm has a 50-day moving average of $225.84 and a 200-day moving average of $235.04. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98. The stock has a market cap of $1.94 billion, a PE ratio of 12.21, a PEG ratio of 0.98 and a beta of 0.87.

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

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be given a dividend of $0.2675 per share. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.67%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio 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.