Bank of Montreal Can increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 93.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,408 shares of the industrial products company’s stock after purchasing an additional 681 shares during the period. Bank of Montreal Can’s holdings in Powell Industries were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in POWL. SG Americas Securities LLC purchased a new stake in Powell Industries during the 2nd quarter worth $129,000. Royal Bank of Canada boosted its position in Powell Industries by 790.4% in the 1st quarter. Royal Bank of Canada now owns 6,660 shares of the industrial products company’s stock valued at $171,000 after buying an additional 5,912 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Powell Industries by 137.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the industrial products company’s stock valued at $189,000 after buying an additional 4,000 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Powell Industries in the 1st quarter valued at about $206,000. Finally, Victory Capital Management Inc. boosted its position in Powell Industries by 653.0% in the 1st quarter. Victory Capital Management Inc. now owns 10,361 shares of the industrial products company’s stock valued at $266,000 after buying an additional 8,985 shares during the last quarter. 68.00% of the stock is owned by hedge funds and other institutional investors.

Shares of POWL stock opened at $24.60 on Friday. Powell Industries, Inc. has a one year low of $15.62 and a one year high of $50.81. The company’s 50-day simple moving average is $26.01 and its 200-day simple moving average is $25.69. The stock has a market capitalization of $285.73 million, a price-to-earnings ratio of 14.14 and a beta of 1.29.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.05). Powell Industries had a return on equity of 6.63% and a net margin of 3.66%. The company had revenue of $118.06 million for the quarter.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.23%.

A number of equities analysts have weighed in on POWL shares. BidaskClub cut shares of Powell Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 17th. Sidoti cut shares of Powell Industries from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $31.00.

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.

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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