Balyasny Asset Management L.P. Acquires 18,804 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Balyasny Asset Management L.P. boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 936.5% in the fourth quarter, HoldingsChannel reports. The firm owned 20,812 shares of the industrial products company’s stock after purchasing an additional 18,804 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Powell Industries were worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Powell Industries in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Powell Industries by 455.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 132 shares during the period. Blue Trust Inc. acquired a new stake in Powell Industries during the 4th quarter worth approximately $40,000. GeoWealth Management LLC boosted its stake in Powell Industries by 123.8% in the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 99 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in Powell Industries in the 4th quarter valued at $43,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $174.77 on Friday. The business’s 50 day simple moving average is $175.80 and its 200 day simple moving average is $223.87. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The company has a market capitalization of $2.11 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 0.78.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. The company had revenue of $278.63 million for the quarter, compared to analysts’ expectations of $282.68 million. During the same quarter last year, the business earned $2.75 earnings per share. Powell Industries’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries’s dividend payout ratio (DPR) 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.