Franklin Resources Inc. Has $3.65 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Franklin Resources Inc. decreased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,444 shares of the industrial products company’s stock after selling 3,654 shares during the period. Franklin Resources Inc.’s holdings in Powell Industries were worth $3,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in POWL. Wellington Management Group LLP acquired a new position in shares of Powell Industries during the third quarter worth approximately $30,038,000. Raymond James Financial Inc. acquired a new position in Powell Industries during the 4th quarter worth $22,556,000. WCM Investment Management LLC bought a new position in Powell Industries in the 4th quarter valued at $14,261,000. Sanctuary Advisors LLC bought a new position in Powell Industries in the 3rd quarter valued at $12,176,000. Finally, Cibc World Market Inc. increased its stake in shares of Powell Industries by 438.8% in the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock valued at $13,464,000 after buying an additional 49,471 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

Powell Industries Price Performance

POWL opened at $173.22 on Friday. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. The firm has a 50 day simple moving average of $183.05 and a 200 day simple moving average of $233.94.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating 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 expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s payout ratio is presently 8.12%.

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.