Citadel Advisors LLC decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,151 shares of the industrial products company’s stock after selling 2,363 shares during the period. Citadel Advisors LLC owned about 0.10% of Powell Industries worth $357,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. US Bancorp DE increased its stake in Powell Industries by 0.3% in the first quarter. US Bancorp DE now owns 8,067 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 28 shares during the period. Texas Permanent School Fund increased its stake in Powell Industries by 1.0% in the second quarter. Texas Permanent School Fund now owns 6,258 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 61 shares during the period. Prudential Financial Inc. increased its stake in Powell Industries by 0.7% in the first quarter. Prudential Financial Inc. now owns 14,797 shares of the industrial products company’s stock worth $510,000 after purchasing an additional 100 shares during the period. Wells Fargo & Company MN increased its stake in Powell Industries by 2.3% in the second quarter. Wells Fargo & Company MN now owns 6,736 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 150 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Powell Industries by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,118 shares of the industrial products company’s stock worth $1,156,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 63.83% of the company’s stock.
Separately, BidaskClub lowered Powell Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd.
Shares of Powell Industries, Inc. (NASDAQ POWL) opened at 29.91 on Wednesday. The stock has a market cap of $341.81 million, a price-to-earnings ratio of 293.24 and a beta of 0.84. Powell Industries, Inc. has a 1-year low of $26.76 and a 1-year high of $47.24. The firm has a 50-day moving average price of $28.87 and a 200-day moving average price of $31.87.
Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.22). Powell Industries had a net margin of 0.27% and a return on equity of 0.71%. The business had revenue of $85.90 million during the quarter, compared to analyst estimates of $104.45 million. During the same period last year, the company earned $0.47 EPS. The business’s revenue for the quarter was down 35.5% on a year-over-year basis. Equities analysts forecast that Powell Industries, Inc. will post ($0.52) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Monday, August 21st. Powell Industries’s dividend payout ratio (DPR) is presently 1,040.10%.
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About Powell Industries
Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and 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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