Morgan Dempsey Capital Management LLC lowered its stake in Powell Industries Inc. (NASDAQ:POWL) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,549 shares of the company’s stock after selling 1,301 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Powell Industries were worth $1,831,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in POWL. Prudential Financial Inc. raised 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 valued at $853,000 after buying an additional 7,900 shares in the last quarter. BlackRock Fund Advisors raised its position in Powell Industries by 1.1% in the first quarter. BlackRock Fund Advisors now owns 581,579 shares of the company’s stock valued at $17,337,000 after buying an additional 6,177 shares in the last quarter. Geode Capital Management LLC raised its position in Powell Industries by 1.0% in the first quarter. Geode Capital Management LLC now owns 64,054 shares of the company’s stock valued at $1,909,000 after buying an additional 610 shares in the last quarter. Beddow Capital Management Inc. raised 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 valued at $8,570,000 after buying an additional 13,620 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Powell Industries by 103.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,714 shares of the company’s stock valued at $107,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.
Powell Industries Inc. (NASDAQ:POWL) traded up 0.55% during midday trading on Thursday, reaching $40.04. 35,317 shares of the company traded hands. The company has a 50-day moving average price of $39.39 and a 200-day moving average price of $35.68. Powell Industries Inc. has a 12-month low of $23.00 and a 12-month high of $41.10. The company has a market cap of $456.18 million, a price-to-earnings ratio of 28.34 and a beta of 0.61.
Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.35. Powell Industries had a return on equity of 6.18% and a net margin of 2.73%. The company earned $133.20 million during the quarter, compared to analysts’ expectations of $126.74 million. During the same period in the prior year, the business earned $0.60 earnings per share. Powell Industries’s revenue for the quarter was down 24.6% compared to the same quarter last year. On average, analysts predict that Powell Industries Inc. will post $1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 17th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.04 annualized dividend and a yield of 2.60%. Powell Industries’s dividend payout ratio (DPR) is currently 73.24%.
POWL has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Sidoti downgraded shares of 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 related news, Director Christopher E. Cragg sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $38.15, for a total value of $38,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.20% of the stock is owned by corporate insiders.
Powell Industries Company Profile
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.
Want to see what other hedge funds are holding POWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Powell Industries Inc. (NASDAQ:POWL).
Receive News & Ratings for Powell Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Powell Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.