Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its position in Powell Industries, Inc. (NASDAQ:POWL) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050 shares of the industrial products company’s stock after selling 203 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Powell Industries were worth $898,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hanseatic Management Services Inc. acquired a new position in Powell Industries in the 4th quarter valued at about $248,000. Merit Financial Group LLC boosted its stake in shares of Powell Industries by 103.9% in the 4th quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company’s stock valued at $1,091,000 after buying an additional 2,508 shares during the period. Bay Rivers Group boosted its stake in shares of Powell Industries by 105.4% in the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after buying an additional 1,177 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Powell Industries by 101.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock valued at $5,962,000 after buying an additional 13,531 shares during the period. Finally, Perigon Wealth Management LLC purchased a new position in shares of Powell Industries in the 4th quarter valued at about $251,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Up 4.4 %

POWL stock opened at $191.13 on Friday. The business has a 50 day moving average price of $173.56 and a 200 day moving average price of $227.78. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.56%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) is 8.12%.

Analyst Upgrades and Downgrades

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

About Powell Industries

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.