B. Riley Wealth Advisors Inc. Reduces Holdings in Powell Industries, Inc. (NASDAQ:POWL)

B. Riley Wealth Advisors Inc. lessened its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 54.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,777 shares of the industrial products company's stock after selling 3,335 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Powell Industries were worth $616,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Powell Industries by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock worth $152,508,000 after purchasing an additional 24,997 shares in the last quarter. American Century Companies Inc. boosted its holdings in Powell Industries by 8.3% in the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock worth $77,965,000 after buying an additional 27,029 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Powell Industries by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock worth $66,023,000 after buying an additional 16,002 shares during the period. Invesco Ltd. increased its stake in Powell Industries by 134.0% in the 4th 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 in the last quarter. Finally, First Trust Advisors LP raised its holdings in Powell Industries by 24.1% during the fourth quarter. First Trust Advisors LP now owns 122,825 shares of the industrial products company's stock valued at $27,224,000 after acquiring an additional 23,839 shares during the period. Institutional investors own 89.77% of the company's stock.

Analysts Set New Price Targets

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

Powell Industries Stock Performance

Shares of Powell Industries stock traded down $1.92 on Friday, hitting $168.48. 286,227 shares of the company traded hands, compared to its average volume of 426,393. The stock has a market capitalization of $2.03 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a 52 week low of $127.01 and a 52 week high of $364.98. The business has a 50-day simple moving average of $177.26 and a 200 day simple moving average of $212.52.

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 (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.47. The firm had revenue of $278.63 million for the quarter, compared to analysts' expectations of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 earnings per share. Research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently announced 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 0.64%. The ex-dividend date is Wednesday, May 21st. Powell Industries's dividend payout ratio is currently 7.52%.

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.