OMERS ADMINISTRATION Corp Sells 7,300 Shares of Powell Industries, Inc. (NASDAQ:POWL)

OMERS ADMINISTRATION Corp lessened its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,800 shares of the industrial products company's stock after selling 7,300 shares during the period. OMERS ADMINISTRATION Corp's holdings in Powell Industries were worth $1,286,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Powell Industries by 5.7% during 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 purchasing an additional 16,002 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Powell Industries by 44.8% in the fourth quarter. Lazard Asset Management LLC now owns 4,988 shares of the industrial products company's stock valued at $1,105,000 after buying an additional 1,544 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of Powell Industries during the fourth quarter worth about $997,000. Janus Henderson Group PLC lifted its stake in shares of Powell Industries by 413.6% in the fourth quarter. Janus Henderson Group PLC now owns 23,113 shares of the industrial products company's stock worth $5,124,000 after acquiring an additional 18,613 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Powell Industries by 58.6% in the fourth quarter. Deutsche Bank AG now owns 9,267 shares of the industrial products company's stock worth $2,054,000 after acquiring an additional 3,423 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analyst Weigh In

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

Powell Industries Price Performance

NASDAQ POWL traded down $3.38 during mid-day trading on Thursday, reaching $171.12. 113,613 shares of the stock were exchanged, compared to its average volume of 428,680. The stock has a market cap of $2.07 billion, a P/E ratio of 12.97, a P/E/G 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. The stock has a 50 day simple moving average of $178.94 and a 200-day simple moving average of $219.93.

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 for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. The firm had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. The business's revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.75 EPS. Sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.63%. Powell Industries's payout ratio is currently 7.52%.

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.