Driehaus Capital Management LLC Trims Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Driehaus Capital Management LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 39.9% during the 4th quarter, according to its most recent 13F filing with the SEC. 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 owned approximately 0.29% of Powell Industries worth $7,651,000 at the end of the most recent quarter.

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

Powell Industries Price Performance

NASDAQ POWL traded down $4.35 during trading on Thursday, hitting $180.41. The company's stock had a trading volume of 208,624 shares, compared to its average volume of 430,634. The company has a market cap of $2.18 billion, a PE ratio of 13.69, a P/E/G ratio of 0.98 and a beta of 0.78. The business's 50 day simple moving average is $177.54 and its 200-day simple moving average is $222.76. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98.

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

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, May 21st. Powell Industries's payout ratio is 7.52%.

Analysts Set New Price Targets

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

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.