Pitcairn Co. Cuts Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Pitcairn Co. lessened its position in Powell Industries, Inc. (NASDAQ:POWL) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,312 shares of the industrial products company’s stock after selling 190 shares during the quarter. Pitcairn Co.’s holdings in Powell Industries were worth $512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of Powell Industries during the 3rd quarter worth approximately $30,038,000. Raymond James Financial Inc. acquired a new position in Powell Industries during the fourth quarter worth $22,556,000. WCM Investment Management LLC acquired a new position in Powell Industries during the fourth quarter worth $14,261,000. Sanctuary Advisors LLC purchased a new stake in Powell Industries in the 3rd quarter valued at $12,176,000. Finally, Cibc World Market Inc. increased its stake in shares of Powell Industries by 438.8% in the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock worth $13,464,000 after acquiring an additional 49,471 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Trading Down 3.2 %

Shares of NASDAQ:POWL opened at $164.45 on Friday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.98 and a beta of 0.67. 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 moving average price of $192.23 and a 200 day moving average price of $235.70.

Powell Industries (NASDAQ:POWL) last announced its quarterly 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%. As a group, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analysts Forecast Growth

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

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.