California Public Employees Retirement System increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,731 shares of the industrial products company’s stock after buying an additional 404 shares during the quarter. California Public Employees Retirement System’s holdings in Powell Industries were worth $794,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Deprince Race & Zollo Inc. boosted its holdings in Powell Industries by 27.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 613,716 shares of the industrial products company’s stock valued at $15,349,000 after purchasing an additional 131,548 shares during the last quarter. Crestline Management LP raised its stake in shares of Powell Industries by 97.9% during the 3rd quarter. Crestline Management LP now owns 92,820 shares of the industrial products company’s stock valued at $3,366,000 after buying an additional 45,906 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Powell Industries by 12.3% during the 3rd quarter. Renaissance Technologies LLC now owns 379,900 shares of the industrial products company’s stock valued at $13,775,000 after buying an additional 41,577 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Powell Industries in the 4th quarter valued at about $1,003,000. Finally, BlackRock Inc. lifted its holdings in shares of Powell Industries by 2.2% in the 3rd quarter. BlackRock Inc. now owns 1,240,686 shares of the industrial products company’s stock valued at $44,986,000 after buying an additional 26,550 shares during the period. 59.67% of the stock is currently owned by hedge funds and other institutional investors.
POWL opened at $29.21 on Friday. Powell Industries, Inc. has a 1 year low of $22.55 and a 1 year high of $41.42.
Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.22). Powell Industries had a negative net margin of 0.89% and a negative return on equity of 1.19%. The firm had revenue of $109.35 million for the quarter, compared to analyst estimates of $108.20 million. During the same quarter in the prior year, the business posted ($0.49) EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 20th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Tuesday, February 19th.
Several research analysts recently weighed in on POWL shares. BidaskClub cut Powell Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Sidoti decreased their price target on Powell Industries from $45.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 12th.
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About Powell Industries
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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