Bank of New York Mellon Corp cut its position in Powell Industries Inc. (NASDAQ:POWL) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,819 shares of the company’s stock after selling 5,292 shares during the period. Bank of New York Mellon Corp owned 1.16% of Powell Industries worth $5,185,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Powell Industries by 1.1% in the first quarter. BlackRock Fund Advisors now owns 581,579 shares of the company’s stock worth $17,337,000 after buying an additional 6,177 shares during the last quarter. Prudential Financial Inc. increased its position in Powell Industries by 38.1% in the first quarter. Prudential Financial Inc. now owns 28,617 shares of the company’s stock worth $853,000 after buying an additional 7,900 shares during the period. Granite Investment Partners LLC purchased a new position in Powell Industries during the first quarter worth about $1,407,000. Renaissance Technologies LLC increased its position in Powell Industries by 60.4% in the first quarter. Renaissance Technologies LLC now owns 150,800 shares of the company’s stock worth $4,495,000 after buying an additional 56,800 shares during the period. Finally, Beddow Capital Management Inc. increased its position in Powell Industries by 5.0% in the first quarter. Beddow Capital Management Inc. now owns 287,495 shares of the company’s stock worth $8,570,000 after buying an additional 13,620 shares during the period. 63.52% of the stock is owned by institutional investors.
Powell Industries Inc. (NASDAQ:POWL) traded down 1.94% during trading on Friday, reaching $38.83. The company’s stock had a trading volume of 32,032 shares. The firm’s 50-day moving average price is $38.95 and its 200 day moving average price is $35.02. Powell Industries Inc. has a 12-month low of $23.00 and a 12-month high of $41.10. The company has a market capitalization of $442.39 million, a P/E ratio of 27.48 and a beta of 0.78.
Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 2nd. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.35. The firm had revenue of $133.20 million for the quarter, compared to the consensus estimate of $126.74 million. Powell Industries had a return on equity of 6.18% and a net margin of 2.73%. The company’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. On average, analysts predict that Powell Industries Inc. will post $1.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 17th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, August 15th. Powell Industries’s dividend payout ratio is currently 73.24%.
A number of equities analysts have issued reports on POWL shares. Zacks Investment Research downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Sidoti downgraded Powell Industries from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a report on Wednesday, July 6th.
In other news, Director Christopher E. Cragg sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $38.15, for a total transaction of $38,150.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 25.20% of the company’s stock.
About Powell Industries
Powell Industries, Inc develops, designs, manufactures and services custom-engineered equipment and systems. The Company manufactures systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy and provide protection to motors, transformers and other electrically powered equipment.
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