US Bancorp DE Has $587,000 Position in Powell Industries, Inc. (NASDAQ:POWL)

US Bancorp DE cut its stake in Powell Industries, Inc. (NASDAQ:POWL) by 31.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,649 shares of the industrial products company’s stock after selling 1,198 shares during the quarter. US Bancorp DE’s holdings in Powell Industries were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of POWL. Wellington Management Group LLP acquired a new position in shares of Powell Industries in the third quarter worth $30,038,000. Victory Capital Management Inc. increased its position in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after buying an additional 90,504 shares during the last quarter. WCM Investment Management LLC acquired a new position in Powell Industries during the fourth quarter worth $14,261,000. Sanctuary Advisors LLC acquired a new position in Powell Industries during the third quarter worth $12,176,000. Finally, Cibc World Market Inc. increased its position in Powell Industries by 438.8% during the fourth quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock worth $13,464,000 after buying an additional 49,471 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on POWL. Roth Mkm began coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock. StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Stock Up 3.3 %

Shares of POWL opened at $163.49 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 0.98 and a beta of 0.84. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The company has a 50-day moving average price of $219.02 and a two-hundred day moving average price of $234.43.

Powell Industries (NASDAQ:POWL) last posted 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%. Equities research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a yield of 0.65%. Powell Industries’s dividend payout ratio (DPR) is presently 8.12%.

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.