The Manufacturers Life Insurance Company increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,330 shares of the industrial products company’s stock after purchasing an additional 983 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Powell Industries worth $266,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in Powell Industries by 6.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 35,890 shares of the industrial products company’s stock worth $1,237,000 after purchasing an additional 2,052 shares during the last quarter. Bessemer Group Inc. lifted its stake in Powell Industries by 7.9% during the second quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 600 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Powell Industries by 49.5% during the second quarter. Goldman Sachs Group Inc. now owns 49,823 shares of the industrial products company’s stock worth $1,594,000 after purchasing an additional 16,501 shares during the last quarter. Vanguard Group Inc. increased its position in Powell Industries by 3.7% during the second quarter. Vanguard Group Inc. now owns 476,740 shares of the industrial products company’s stock worth $15,251,000 after buying an additional 17,107 shares during the period. Finally, Heartland Advisors Inc. increased its position in Powell Industries by 93.4% during the second quarter. Heartland Advisors Inc. now owns 299,501 shares of the industrial products company’s stock worth $9,581,000 after buying an additional 144,653 shares during the period. Hedge funds and other institutional investors own 65.45% of the company’s stock.

Powell Industries, Inc. (NASDAQ:POWL) opened at $28.28 on Wednesday. The company has a market capitalization of $326.06, a P/E ratio of 135.86 and a beta of 0.84. Powell Industries, Inc. has a 12-month low of $26.75 and a 12-month high of $47.24.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, December 5th. The industrial products company reported ($0.42) EPS for the quarter, missing the 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 return on equity of 0.71% and a net margin of 0.27%. 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 EPS.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, November 20th. Powell Industries’s dividend payout ratio (DPR) is 1,040.10%.

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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.

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

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