Victory Capital Management Inc. Cuts Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Victory Capital Management Inc. decreased its position in Powell Industries, Inc. (NASDAQ:POWL) by 52.9% 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 46,405 shares of the industrial products company’s stock after selling 52,185 shares during the quarter. Victory Capital Management Inc. owned approximately 0.38% of Powell Industries worth $10,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after purchasing an additional 3,403 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Powell Industries by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after buying an additional 9,692 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Powell Industries in the third quarter valued at approximately $30,038,000. Charles Schwab Investment Management Inc. increased its position in shares of Powell Industries by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock valued at $20,942,000 after acquiring an additional 637 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in Powell Industries by 17.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 72,016 shares of the industrial products company’s stock worth $15,962,000 after acquiring an additional 10,725 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. 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 price target for the company. Finally, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday.

Powell Industries Trading Down 0.3 %

Powell Industries stock opened at $166.67 on Friday. The business’s 50 day simple moving average is $217.93 and its 200 day simple moving average is $233.96. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.98 and a beta of 0.84.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results 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 return on equity of 35.48% and a net margin of 15.15%. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be given a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.64%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is 8.12%.

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.