Powell Industries, Inc. (NASDAQ:POWL) Position Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 369,917 shares of the industrial products company's stock after selling 10,260 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 3.09% of Powell Industries worth $32,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Dimensional Fund Advisors LP grew its holdings in shares of Powell Industries by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 805,643 shares of the industrial products company's stock valued at $34,312,000 after buying an additional 19,485 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Powell Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 625,805 shares of the industrial products company's stock valued at $12,153,000 after buying an additional 30,476 shares during the last quarter. State Street Corp grew its holdings in shares of Powell Industries by 6.7% during the first quarter. State Street Corp now owns 340,886 shares of the industrial products company's stock valued at $14,518,000 after buying an additional 21,324 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Powell Industries by 41.4% during the fourth quarter. JPMorgan Chase & Co. now owns 273,290 shares of the industrial products company's stock valued at $9,614,000 after buying an additional 79,981 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Powell Industries by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 216,053 shares of the industrial products company's stock valued at $4,555,000 after buying an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Powell Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st.

Insider Buying and Selling

In other news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at approximately $108,168,364.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at approximately $108,168,364.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher E. Cragg sold 9,000 shares of Powell Industries stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $155.13, for a total transaction of $1,396,170.00. Following the transaction, the director now owns 12,360 shares in the company, valued at approximately $1,917,406.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is owned by insiders.

Powell Industries Trading Down 0.5 %

POWL stock traded down $0.74 on Monday, hitting $137.48. The company had a trading volume of 183,321 shares, compared to its average volume of 334,384. Powell Industries, Inc. has a 12-month low of $38.91 and a 12-month high of $197.87. The stock's 50-day simple moving average is $148.01 and its 200 day simple moving average is $105.87. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.31 and a beta of 0.80.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.98. Powell Industries had a net margin of 10.10% and a return on equity of 22.30%. The company had revenue of $194.00 million for the quarter, compared to analysts' expectations of $182.04 million. During the same quarter last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 53.0% on a year-over-year basis. Research analysts forecast that Powell Industries, Inc. will post 7.54 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were issued a $0.262 dividend. This represents a $1.05 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, February 13th. Powell Industries's dividend payout ratio is currently 16.64%.

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.