Millennium Management LLC Has $16.16 Million Position in Powell Industries, Inc. (NASDAQ:POWL)

Millennium Management LLC lessened its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 47.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 72,899 shares of the industrial products company's stock after selling 64,979 shares during the quarter. Millennium Management LLC owned approximately 0.60% of Powell Industries worth $16,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Powell Industries during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its position in Powell Industries by 455.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 132 shares during the period. Blue Trust Inc. acquired a new stake in Powell Industries during the 4th quarter valued at approximately $40,000. GeoWealth Management LLC increased its position in Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 99 shares during the period. Finally, Tucker Asset Management LLC acquired a new stake in Powell Industries during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL traded up $6.54 during mid-day trading on Tuesday, hitting $181.24. The company had a trading volume of 461,841 shares, compared to its average volume of 427,718. The firm has a fifty day moving average price of $178.54 and a 200 day moving average price of $215.27. The company has a market capitalization of $2.19 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. 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 released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. Powell Industries's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 EPS. Research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.