Nuveen Asset Management LLC Sells 17,515 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Nuveen Asset Management LLC lowered its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,494 shares of the industrial products company's stock after selling 17,515 shares during the period. Nuveen Asset Management LLC owned about 0.79% of Powell Industries worth $21,166,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in Powell Industries in the 4th quarter worth $26,000. Smartleaf Asset Management LLC raised its holdings in Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock worth $37,000 after purchasing an additional 132 shares in the last quarter. GeoWealth Management LLC raised its holdings in Powell Industries by 123.8% in the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Blue Trust Inc. bought a new position in Powell Industries in the 4th quarter worth $40,000. Finally, Tucker Asset Management LLC bought a new position in Powell Industries in the 4th quarter worth $43,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Trading Down 0.9%

NASDAQ POWL traded down $1.58 during trading on Thursday, hitting $172.08. The company had a trading volume of 73,717 shares, compared to its average volume of 425,649. The company's fifty day moving average is $178.33 and its 200-day moving average is $214.98. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 13.07, 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 issued its quarterly 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 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 quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $2.75 EPS. As a group, equities analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current 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 paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. Powell Industries's payout ratio is 7.52%.

Wall Street Analysts Forecast Growth

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

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.