Jacobs Levy Equity Management Inc. Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Jacobs Levy Equity Management Inc. cut its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,783 shares of the industrial products company's stock after selling 3,284 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.47% of Powell Industries worth $12,586,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Powell Industries by 413.6% during the fourth quarter. Janus Henderson Group PLC now owns 23,113 shares of the industrial products company's stock worth $5,124,000 after purchasing an additional 18,613 shares during the last quarter. Deutsche Bank AG increased its position in Powell Industries by 58.6% during the fourth quarter. Deutsche Bank AG now owns 9,267 shares of the industrial products company's stock worth $2,054,000 after buying an additional 3,423 shares in the last quarter. CastleKnight Management LP increased its position in Powell Industries by 105.9% during the fourth quarter. CastleKnight Management LP now owns 7,000 shares of the industrial products company's stock worth $1,552,000 after buying an additional 3,600 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Powell Industries by 936.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 20,812 shares of the industrial products company's stock worth $4,613,000 after buying an additional 18,804 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Powell Industries by 9.1% during the fourth quarter. Baird Financial Group Inc. now owns 57,631 shares of the industrial products company's stock worth $12,774,000 after buying an additional 4,796 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Powell Industries Stock Up 3.0%

Shares of NASDAQ POWL traded up $5.41 during midday trading on Friday, hitting $183.17. The stock had a trading volume of 294,486 shares, compared to its average volume of 433,575. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a 1-year low of $127.01 and a 1-year high of $364.98. The company has a fifty day moving average price of $178.32 and a 200 day moving average price of $221.20.

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 business had revenue of $278.63 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $2.75 EPS. On average, research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.58%. Powell Industries's 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.