Balyasny Asset Management L.P. Acquires 18,804 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Balyasny Asset Management L.P. increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 936.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,812 shares of the industrial products company's stock after purchasing an additional 18,804 shares during the period. Balyasny Asset Management L.P. owned approximately 0.17% of Powell Industries worth $4,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of POWL. Barclays PLC lifted its stake in Powell Industries by 198.1% in the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock valued at $13,536,000 after buying an additional 40,515 shares in the last quarter. Franklin Resources Inc. boosted its stake in Powell Industries by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company's stock worth $4,462,000 after purchasing an additional 497 shares during the period. Principal Financial Group Inc. increased its holdings in Powell Industries by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after purchasing an additional 2,793 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Powell Industries by 101.5% in the third quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock valued at $5,962,000 after purchasing an additional 13,531 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Powell Industries by 3.1% during the fourth quarter. Nordea Investment Management AB now owns 6,170 shares of the industrial products company's stock worth $1,389,000 after buying an additional 188 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Trading Down 1.8 %

Shares of POWL stock opened at $174.77 on Friday. The firm's fifty day moving average price is $175.80 and its two-hundred day moving average price is $223.87. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The firm has a market capitalization of $2.11 billion, a P/E ratio of 13.27, a PEG ratio of 0.98 and a beta of 0.78.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.47. The business had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. Powell Industries's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 earnings per share. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently declared 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 (DPR) is currently 8.12%.

Powell Industries 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.

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