BlackRock Inc. Grows Stake in Powell Industries, Inc. (POWL)
BlackRock Inc. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,214,136 shares of the industrial products company’s stock after purchasing an additional 60,283 shares during the period. BlackRock Inc. owned about 10.59% of Powell Industries worth $42,287,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Powell Industries in the second quarter valued at approximately $143,000. Susquehanna Fundamental Investments LLC bought a new stake in Powell Industries in the first quarter valued at approximately $200,000. Crossmark Global Holdings Inc. bought a new stake in Powell Industries in the second quarter valued at approximately $271,000. Granite Investment Partners LLC bought a new stake in Powell Industries in the second quarter valued at approximately $402,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Powell Industries by 18.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,210 shares of the industrial products company’s stock valued at $1,575,000 after acquiring an additional 7,017 shares during the last quarter. Institutional investors own 65.39% of the company’s stock.
Several analysts recently commented on POWL shares. Sidoti upgraded Powell Industries from a “neutral” rating to a “buy” rating in a report on Friday, September 28th. BidaskClub cut Powell Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 1st.
Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.19. The firm had revenue of $122.13 million for the quarter. Powell Industries had a negative return on equity of 4.35% and a negative net margin of 3.38%.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 22nd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 21st.
About Powell Industries
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.
Further Reading: Moving Average (MA)
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