Brandywine Global Investment Management LLC lifted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 377,299 shares of the industrial products company’s stock after acquiring an additional 47,359 shares during the quarter. Brandywine Global Investment Management LLC owned 3.30% of Powell Industries worth $10,810,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in POWL. Heartland Advisors Inc. grew its position in Powell Industries by 49.6% during the fourth quarter. Heartland Advisors Inc. now owns 567,465 shares of the industrial products company’s stock valued at $16,258,000 after buying an additional 188,080 shares during the period. Carnick & Kubik Group LLC bought a new position in shares of Powell Industries in the fourth quarter worth approximately $4,851,000. Deprince Race & Zollo Inc. bought a new position in shares of Powell Industries in the fourth quarter worth approximately $3,388,000. Van Den Berg Management I Inc. boosted its position in shares of Powell Industries by 95.7% in the third quarter. Van Den Berg Management I Inc. now owns 174,830 shares of the industrial products company’s stock worth $5,243,000 after purchasing an additional 85,495 shares during the period. Finally, Boston Partners bought a new position in shares of Powell Industries in the fourth quarter worth approximately $2,222,000. Institutional investors own 65.15% of the company’s stock.
Separately, BidaskClub lowered shares of Powell Industries from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th.
Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.33). The firm had revenue of $90.18 million during the quarter, compared to the consensus estimate of $103.34 million. Powell Industries had a negative return on equity of 4.35% and a negative net margin of 3.95%. The business’s revenue for the quarter was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 21st will be given a $0.26 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.58%. Powell Industries’s payout ratio is currently -85.25%.
Powell Industries Profile
Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.
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