Driehaus Capital Management LLC Sells 22,903 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Driehaus Capital Management LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 39.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,519 shares of the industrial products company’s stock after selling 22,903 shares during the period. Driehaus Capital Management LLC’s holdings in Powell Industries were worth $7,651,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sei Investments Co. boosted its position in Powell Industries by 3.1% during the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 85 shares in the last quarter. Freedom Investment Management Inc. boosted its position in Powell Industries by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company’s stock valued at $537,000 after purchasing an additional 87 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Powell Industries by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 90 shares during the last quarter. GeoWealth Management LLC raised its holdings in Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in Powell Industries by 100.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 100 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th.

Powell Industries Trading Down 1.8 %

Shares of POWL opened at $174.77 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a 12 month low of $127.01 and a 12 month high of $364.98. The stock has a fifty day moving average price of $175.80 and a 200-day moving average price of $224.08.

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

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries’s dividend payout ratio is presently 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.