Russell Investments Group Ltd. Cuts Stake in Powell Industries, Inc. (NASDAQ:POWL)

Russell Investments Group Ltd. cut its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 74.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,446 shares of the industrial products company’s stock after selling 16,228 shares during the period. Russell Investments Group Ltd.’s holdings in Powell Industries were worth $1,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWL. Sei Investments Co. grew its stake in shares of Powell Industries by 3.1% during the fourth quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company’s stock valued at $631,000 after buying an additional 85 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Powell Industries by 10.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 90 shares during the last quarter. Swiss National Bank increased its stake in Powell Industries by 0.5% in the fourth quarter. Swiss National Bank now owns 18,800 shares of the industrial products company’s stock worth $4,167,000 after purchasing an additional 100 shares during the period. Prestige Wealth Management Group LLC lifted its position in shares of Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Powell Industries by 6.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,708 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 109 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Performance

Shares of POWL stock opened at $167.24 on Monday. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.98 and a beta of 0.67. The stock’s 50-day simple moving average is $177.01 and its 200-day simple moving average is $232.06.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. As a group, equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were issued a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.64%. Powell Industries’s dividend payout ratio is presently 8.12%.

Powell Industries 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.