Gallacher Capital Management LLC Cuts Position in Powell Industries, Inc. (NASDAQ:POWL)

Gallacher Capital Management LLC cut its stake in Powell Industries, Inc. (NASDAQ:POWL) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,149 shares of the industrial products company’s stock after selling 205 shares during the period. Gallacher Capital Management LLC’s holdings in Powell Industries were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POWL. Principal Financial Group Inc. grew 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 in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Powell Industries in the third quarter worth $201,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Powell Industries in the third quarter worth $575,000. Victory Capital Management Inc. grew its position in Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after acquiring an additional 90,504 shares in the last quarter. Finally, KBC Group NV grew its position in Powell Industries by 64.3% in the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 126 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Price Performance

NASDAQ POWL opened at $173.36 on Monday. The stock has a market capitalization of $2.09 billion, a PE ratio of 13.16, a PEG ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a 1 year low of $122.00 and a 1 year high of $364.98. The business’s 50-day moving average is $215.24 and its 200 day moving average is $234.20.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping 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 anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current 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 paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. Powell Industries’s dividend payout ratio (DPR) is presently 8.12%.

Analyst Ratings Changes

POWL has been the topic of a number of recent research reports. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective on the stock. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Finally, Roth Capital raised Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

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.