US Bancorp DE trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,836 shares of the industrial products company’s stock after selling 2,006 shares during the period. US Bancorp DE owned about 0.10% of Powell Industries worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Powell Industries during the 2nd quarter worth about $143,000. Susquehanna Fundamental Investments LLC bought a new position in Powell Industries during the 1st quarter worth about $200,000. Signature Financial Management Inc. bought a new position in Powell Industries during the 1st quarter worth about $206,000. Crossmark Global Holdings Inc. bought a new position in Powell Industries during the 2nd quarter worth about $271,000. Finally, Granite Investment Partners LLC bought a new position in Powell Industries during the 2nd quarter worth about $402,000. Institutional investors own 65.39% of the company’s stock.
Several brokerages have issued reports on POWL. BidaskClub upgraded shares of Powell Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, August 24th. Sidoti upgraded shares of Powell Industries from a “neutral” rating to a “buy” rating in a report on Friday, September 28th.
Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.19. Powell Industries had a negative net margin of 3.38% and a negative return on equity of 4.35%. The business had revenue of $122.13 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, August 22nd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date 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.
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