Raymond James Financial Inc. Acquires New Shares in Powell Industries, Inc. (NASDAQ:POWL)

Raymond James Financial Inc. bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 101,765 shares of the industrial products company's stock, valued at approximately $22,556,000. Raymond James Financial Inc. owned approximately 0.84% of Powell Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Invesco Ltd. lifted its position in shares of Powell Industries by 134.0% in the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after buying an additional 151,850 shares in the last quarter. Bank of Montreal Can increased its position in Powell Industries by 46.2% during the 4th quarter. Bank of Montreal Can now owns 1,988 shares of the industrial products company's stock valued at $441,000 after purchasing an additional 628 shares during the period. Cerity Partners LLC raised its stake in Powell Industries by 2,516.5% in the fourth quarter. Cerity Partners LLC now owns 38,751 shares of the industrial products company's stock worth $8,589,000 after buying an additional 37,270 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Powell Industries in the 4th quarter valued at $550,000. Finally, Federated Hermes Inc. grew its stake in Powell Industries by 47,368.9% in the fourth quarter. Federated Hermes Inc. now owns 62,659 shares of the industrial products company's stock valued at $13,888,000 after purchasing an additional 62,527 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Stock Up 3.8 %

Shares of Powell Industries stock traded up $6.61 during trading hours on Thursday, reaching $181.28. 53,271 shares of the company's stock were exchanged, compared to its average volume of 433,040. The business has a fifty day moving average of $174.27 and a two-hundred day moving average of $230.63. The company has a market capitalization of $2.19 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. As a group, research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.59%. Powell Industries's payout ratio is presently 8.12%.

Powell Industries 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.