Heartland Advisors Inc. Buys 188,080 Shares of Powell Industries, Inc. (POWL)
Heartland Advisors Inc. lifted its stake in Powell Industries, Inc. (NASDAQ:POWL) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 567,465 shares of the industrial products company’s stock after purchasing an additional 188,080 shares during the quarter. Powell Industries comprises 1.0% of Heartland Advisors Inc.’s portfolio, making the stock its 19th biggest holding. Heartland Advisors Inc.’s holdings in Powell Industries were worth $16,258,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in POWL. Deprince Race & Zollo Inc. purchased a new position in Powell Industries during the 4th quarter valued at $3,388,000. Van Den Berg Management I Inc. raised its holdings in Powell Industries by 95.7% in the 3rd quarter. Van Den Berg Management I Inc. now owns 174,830 shares of the industrial products company’s stock worth $5,243,000 after acquiring an additional 85,495 shares during the period. Boston Partners bought a new position in Powell Industries in the 4th quarter worth $2,222,000. Dimensional Fund Advisors LP raised its holdings in Powell Industries by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 797,721 shares of the industrial products company’s stock worth $23,924,000 after acquiring an additional 41,005 shares during the period. Finally, State Street Corp raised its holdings in Powell Industries by 8.2% in the 2nd quarter. State Street Corp now owns 261,499 shares of the industrial products company’s stock worth $8,368,000 after acquiring an additional 19,766 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Separately, BidaskClub raised shares of Powell Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th.
Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, December 5th. The industrial products company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.23). The business had revenue of $95.00 million for the quarter, compared to the consensus estimate of $87.96 million. Powell Industries had a negative return on equity of 2.65% and a negative net margin of 2.40%. The company’s quarterly revenue was down 26.8% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share.
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About Powell Industries
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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