Avantax Advisory Services Inc. Sells 146 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Avantax Advisory Services Inc. lessened its stake in Powell Industries, Inc. (NASDAQ:POWL) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,263 shares of the industrial products company’s stock after selling 146 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Powell Industries were worth $280,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Powell Industries in the third quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Powell Industries by 12.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock valued at $20,833,000 after acquiring an additional 10,352 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Powell Industries during the 3rd quarter worth $2,059,000. Daiwa Securities Group Inc. increased its holdings in Powell Industries by 329.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 4,563 shares of the industrial products company’s stock worth $1,013,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in Powell Industries in the 3rd quarter worth about $3,690,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on POWL shares. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm assumed 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 raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th.

Powell Industries Stock Performance

NASDAQ POWL opened at $196.11 on Wednesday. The company has a market capitalization of $2.37 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98. The company has a 50-day simple moving average of $208.35 and a 200 day simple moving average of $235.59.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were paid a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s payout ratio is 8.12%.

About Powell Industries

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.