Hsbc Holdings PLC Sells 3,060 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Hsbc Holdings PLC reduced its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 68.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,423 shares of the industrial products company's stock after selling 3,060 shares during the period. Hsbc Holdings PLC's holdings in Powell Industries were worth $320,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Powell Industries by 198.1% in the 3rd quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock worth $13,536,000 after acquiring an additional 40,515 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Powell Industries by 2.5% during the third quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company's stock worth $4,462,000 after acquiring an additional 497 shares during the period. Principal Financial Group Inc. raised its position in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after acquiring an additional 2,793 shares during the period. JPMorgan Chase & Co. grew its position in shares of Powell Industries by 101.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock valued at $5,962,000 after purchasing an additional 13,531 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Powell Industries by 3.1% in the fourth quarter. Nordea Investment Management AB now owns 6,170 shares of the industrial products company's stock worth $1,389,000 after purchasing an additional 188 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $6.98 during trading on Tuesday, reaching $194.88. The stock had a trading volume of 283,474 shares, compared to its average volume of 430,712. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The company has a market cap of $2.35 billion, a P/E ratio of 14.80, a PEG ratio of 0.98 and a beta of 0.78. The business's 50-day moving average price is $176.35 and its 200-day moving average price is $223.22.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. The firm had revenue of $278.63 million during the quarter, compared to analysts' expectations of $282.68 million. During the same quarter last year, the business posted $2.75 EPS. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $0.2675 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.55%. Powell Industries's dividend 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.