Bank of New York Mellon Corp Reduces Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Bank of New York Mellon Corp trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 12.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 80,793 shares of the industrial products company’s stock after selling 11,220 shares during the period. Bank of New York Mellon Corp’s holdings in Powell Industries were worth $17,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares during the period. Chartwell Investment Partners LLC lifted its position in Powell Industries by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares during the period. Farther Finance Advisors LLC lifted its position in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares during the period. KBC Group NV lifted its position in Powell Industries by 35.1% during the 4th quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 113 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Powell Industries during the 4th quarter worth about $26,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on POWL. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Finally, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday.

Powell Industries Stock Performance

POWL opened at $163.49 on Wednesday. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The stock has a market capitalization of $1.97 billion, a PE ratio of 12.41, a P/E/G ratio of 0.98 and a beta of 0.84. The business’s 50 day moving average price is $219.02 and its 200 day moving average price is $234.43.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. As a group, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is 8.12%.

Powell Industries Company 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.