Prospector Partners LLC grew its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,900 shares of the industrial products company’s stock after acquiring an additional 8,800 shares during the period. Prospector Partners LLC owned about 0.53% of Powell Industries worth $1,826,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Texas Permanent School Fund raised its stake in shares of Powell Industries by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 6,258 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 61 shares during the period. Wells Fargo & Company MN raised its stake in shares of Powell Industries by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 6,736 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 150 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Powell Industries by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 36,118 shares of the industrial products company’s stock valued at $1,156,000 after acquiring an additional 228 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Powell Industries by 2.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 24,935 shares of the industrial products company’s stock valued at $798,000 after acquiring an additional 539 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Powell Industries by 7.9% in the 2nd quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 600 shares during the period. 65.45% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries, Inc. (NASDAQ POWL) opened at $27.99 on Friday. Powell Industries, Inc. has a one year low of $22.80 and a one year high of $40.70.

Powell Industries (NASDAQ:POWL) last released 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 firm had revenue of $95.00 million for the quarter, compared to analyst estimates of $87.96 million. Powell Industries had a negative net margin of 2.40% and a negative return on equity of 2.65%. Powell Industries’s revenue for the quarter was down 26.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Monday, November 20th. Powell Industries’s payout ratio is -125.30%.

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Powell Industries Company Profile

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.

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

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