Two Sigma Advisers LP cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.1% during the 4th quarter, Holdings Channel reports. The firm owned 27,208 shares of the industrial products company’s stock after selling 2,400 shares during the quarter. Two Sigma Advisers LP’s holdings in Powell Industries were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in POWL. Deprince Race & Zollo Inc. lifted its holdings in Powell Industries by 27.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 613,716 shares of the industrial products company’s stock valued at $15,349,000 after purchasing an additional 131,548 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Powell Industries by 12.3% during the third quarter. Renaissance Technologies LLC now owns 379,900 shares of the industrial products company’s stock valued at $13,775,000 after purchasing an additional 41,577 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Powell Industries during the fourth quarter valued at about $1,003,000. BlackRock Inc. lifted its holdings in Powell Industries by 3.1% during the fourth quarter. BlackRock Inc. now owns 1,279,118 shares of the industrial products company’s stock valued at $31,988,000 after purchasing an additional 38,432 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Powell Industries by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 952,179 shares of the industrial products company’s stock valued at $34,525,000 after purchasing an additional 14,137 shares during the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub raised shares of Powell Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th.
Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, February 5th. The industrial products company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.22). The business had revenue of $109.35 million for the quarter, compared to analysts’ expectations of $108.20 million. Powell Industries had a negative net margin of 0.89% and a negative return on equity of 1.19%. Powell Industries’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the company earned ($0.49) earnings per share.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 20th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, February 19th.
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.
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