Bank of America Corp DE Has $2.97 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Bank of America Corp DE reduced its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,375 shares of the industrial products company's stock after selling 53,656 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Powell Industries worth $2,965,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Perigon Wealth Management LLC acquired a new stake in Powell Industries in the fourth quarter valued at approximately $251,000. Barclays PLC increased its position in Powell Industries by 198.1% during the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock worth $13,536,000 after acquiring an additional 40,515 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Powell Industries by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company's stock worth $20,942,000 after purchasing an additional 637 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Powell Industries during the fourth quarter worth approximately $1,489,000. Finally, Cibc World Market Inc. grew its holdings in Powell Industries by 438.8% during the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company's stock worth $13,464,000 after acquiring an additional 49,471 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Shares of Powell Industries stock traded up $3.07 on Monday, reaching $172.66. 365,587 shares of the stock were exchanged, compared to its average volume of 426,146. The firm has a market cap of $2.08 billion, a PE ratio of 13.11, a P/E/G ratio of 0.98 and a beta of 0.78. The firm's 50 day moving average is $177.26 and its 200-day moving average is $211.17. Powell Industries, Inc. has a one year low of $127.01 and a one year high of $364.98.

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

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Powell Industries from a "hold" rating to a "buy" rating in a report 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.