BlackRock Inc. Grows Position in Powell Industries (NASDAQ:POWL)

BlackRock Inc. raised its stake in Powell Industries (NASDAQ:POWL) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,134,857 shares of the industrial products company’s stock after acquiring an additional 29,550 shares during the quarter. BlackRock Inc. owned about 9.91% of Powell Industries worth $32,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of POWL. Crossmark Global Holdings Inc. bought a new position in Powell Industries in the fourth quarter valued at approximately $216,000. Wells Fargo & Company MN lifted its position in shares of Powell Industries by 52.4% in the third quarter. Wells Fargo & Company MN now owns 10,263 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 3,527 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Powell Industries in the fourth quarter worth $418,000. Pinebridge Investments L.P. lifted its position in shares of Powell Industries by 1,749.0% in the fourth quarter. Pinebridge Investments L.P. now owns 19,932 shares of the industrial products company’s stock worth $571,000 after purchasing an additional 18,854 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Powell Industries by 15.8% in the fourth quarter. Rhumbline Advisers now owns 21,199 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 2,887 shares in the last quarter. Institutional investors own 65.15% of the company’s stock.

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Shares of POWL opened at $30.45 on Thursday. Powell Industries has a 1-year low of $22.80 and a 1-year high of $38.73.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.33). Powell Industries had a negative net margin of 3.95% and a negative return on equity of 4.35%. The company had revenue of $90.18 million during the quarter, compared to analyst estimates of $103.34 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Powell Industries’s revenue for the quarter was down 18.2% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, February 21st were paid a $0.26 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $1.04 annualized dividend and a dividend yield of 3.42%.

Separately, BidaskClub raised shares of Powell Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th.

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Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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