Assetmark Inc. Cuts Position in Powell Industries, Inc. (NASDAQ:POWL)

Assetmark Inc. decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 8.1% in the 4th quarter, HoldingsChannel reports. The fund owned 11,177 shares of the industrial products company’s stock after selling 981 shares during the quarter. Assetmark Inc.’s holdings in Powell Industries were worth $2,477,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of POWL. Wealth Enhancement Advisory Services LLC purchased a new position in Powell Industries in the third quarter worth $260,000. Farther Finance Advisors LLC raised its position 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 worth $44,000 after acquiring an additional 105 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Powell Industries in the third quarter worth $446,000. Principal Financial Group Inc. raised its position in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after acquiring an additional 2,793 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in Powell Industries in the third quarter worth $30,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Performance

Powell Industries stock opened at $162.86 on Monday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The stock’s fifty day moving average is $221.56 and its two-hundred day moving average is $234.78.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

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.