Driehaus Capital Management LLC Reduces Stake in Powell Industries, Inc. (NASDAQ:POWL)

Driehaus Capital Management LLC cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 39.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,519 shares of the industrial products company’s stock after selling 22,903 shares during the period. Driehaus Capital Management LLC owned 0.29% of Powell Industries worth $7,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. CastleKnight Management LP raised its holdings in Powell Industries by 105.9% during the 4th quarter. CastleKnight Management LP now owns 7,000 shares of the industrial products company’s stock valued at $1,552,000 after buying an additional 3,600 shares during the period. Balyasny Asset Management L.P. increased its position in Powell Industries by 936.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 20,812 shares of the industrial products company’s stock valued at $4,613,000 after acquiring an additional 18,804 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Powell Industries by 9.1% in the fourth quarter. Baird Financial Group Inc. now owns 57,631 shares of the industrial products company’s stock valued at $12,774,000 after acquiring an additional 4,796 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Powell Industries in the 4th quarter worth about $655,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Powell Industries by 795.9% during the 4th quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock worth $18,135,000 after purchasing an additional 72,686 shares during the period. 89.77% of the stock is owned by institutional investors.

Powell Industries Stock Down 1.8 %

POWL stock opened at $174.77 on Friday. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.98 and a beta of 0.78. The business’s fifty day simple moving average is $175.80 and its two-hundred day simple moving average is $224.08.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.47. The company had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $2.75 EPS. Research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.61%. Powell Industries’s payout ratio is currently 8.12%.

Analysts Set New Price Targets

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

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.