CANADA LIFE ASSURANCE Co Cuts Position in Powell Industries, Inc. (NASDAQ:POWL)

CANADA LIFE ASSURANCE Co trimmed its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 27.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,093 shares of the industrial products company's stock after selling 3,428 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.08% of Powell Industries worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in POWL. Invesco Ltd. increased its holdings in Powell Industries by 134.0% during the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after buying an additional 151,850 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Powell Industries during the 4th quarter worth $22,556,000. WCM Investment Management LLC purchased a new stake in Powell Industries in the 4th quarter worth about $14,261,000. Federated Hermes Inc. increased its holdings in Powell Industries by 47,368.9% in the 4th quarter. Federated Hermes Inc. now owns 62,659 shares of the industrial products company's stock worth $13,888,000 after acquiring an additional 62,527 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in Powell Industries by 438.8% in the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company's stock valued at $13,464,000 after acquiring an additional 49,471 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Powell Industries Trading Up 2.1 %

Shares of NASDAQ POWL traded up $3.93 during mid-day trading on Friday, hitting $195.06. The company had a trading volume of 70,185 shares, compared to its average volume of 427,308. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 0.98 and a beta of 0.67. The stock's 50-day moving average price is $173.56 and its 200-day moving average price is $227.78.

Powell Industries (NASDAQ:POWL - Get Free Report) last released 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 net margin of 15.15% and a return on equity of 35.48%. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were paid a dividend of $0.2675 per share. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 annualized dividend and a yield of 0.55%. Powell Industries's dividend payout ratio (DPR) is currently 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.