Bank of America Corp DE Has $2.97 Million Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Bank of America Corp DE reduced its position in Powell Industries, Inc. (NASDAQ:POWL) by 80.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,375 shares of the industrial products company’s stock after selling 53,656 shares during the period. Bank of America Corp DE owned about 0.11% of Powell Industries worth $2,965,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of POWL. Invesco Ltd. increased its position in Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company’s stock worth $58,768,000 after purchasing an additional 151,850 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Powell Industries in the 4th quarter worth about $22,556,000. BNP Paribas Financial Markets increased its position in Powell Industries by 795.9% in the 4th quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock worth $18,135,000 after purchasing an additional 72,686 shares during the last quarter. WCM Investment Management LLC acquired a new position in Powell Industries in the 4th quarter worth about $14,261,000. Finally, Federated Hermes Inc. increased its position in Powell Industries by 47,368.9% in the 4th quarter. Federated Hermes Inc. now owns 62,659 shares of the industrial products company’s stock worth $13,888,000 after purchasing an additional 62,527 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th.

Powell Industries Stock Performance

POWL opened at $168.48 on Friday. The company has a market cap of $2.03 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The stock has a 50-day moving average of $177.26 and a 200-day moving average of $211.79. Powell Industries, Inc. has a 52-week low of $127.01 and a 52-week high of $364.98.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. On average, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.2675 per share. The ex-dividend date is Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.64%. Powell Industries’s dividend payout ratio (DPR) is presently 7.52%.

Powell Industries Company 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.