Victory Capital Management Inc. Sells 52,185 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Victory Capital Management Inc. cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 52.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,405 shares of the industrial products company’s stock after selling 52,185 shares during the period. Victory Capital Management Inc.’s holdings in Powell Industries were worth $10,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Powell Industries during the fourth quarter worth about $26,000. Quest Partners LLC purchased a new position in shares of Powell Industries during the third quarter worth about $35,000. Smartleaf Asset Management LLC increased its position in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Blue Trust Inc. purchased a new stake in Powell Industries in the fourth quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC raised its stake in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on POWL shares. Roth Mkm started coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Price Performance

NASDAQ:POWL opened at $166.67 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.98 and a beta of 0.84. The business has a 50 day moving average of $217.93 and a 200 day moving average of $233.96. Powell Industries, Inc. has a 1-year low of $122.00 and a 1-year high of $364.98.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.64%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries’s dividend payout ratio 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.