Franklin Resources Inc. Has $3.65 Million Stake in Powell Industries, Inc. (NASDAQ:POWL)

Franklin Resources Inc. reduced its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,444 shares of the industrial products company’s stock after selling 3,654 shares during the quarter. Franklin Resources Inc. owned about 0.14% of Powell Industries worth $3,645,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Hanseatic Management Services Inc. bought a new position in Powell Industries during the fourth quarter worth $248,000. Merit Financial Group LLC increased its holdings in shares of Powell Industries by 103.9% during the 4th quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company’s stock worth $1,091,000 after purchasing an additional 2,508 shares during the period. Bay Rivers Group raised its position in shares of Powell Industries by 105.4% during the fourth quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after buying an additional 1,177 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Powell Industries by 101.5% in the third quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock valued at $5,962,000 after buying an additional 13,531 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Powell Industries during the third quarter worth about $12,176,000. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Powell Industries Price Performance

POWL opened at $173.22 on Friday. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The company has a market capitalization of $2.09 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.98 and a beta of 0.67. The firm’s fifty day moving average price is $183.05 and its two-hundred day moving average price is $233.94.

Powell Industries (NASDAQ:POWL) last posted its earnings results 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%. On average, equities research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is 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.