Cerity Partners LLC Has $8.59 Million Stake in Powell Industries, Inc. (NASDAQ:POWL)

Cerity Partners LLC raised its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 2,516.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,751 shares of the industrial products company's stock after purchasing an additional 37,270 shares during the quarter. Cerity Partners LLC owned approximately 0.32% of Powell Industries worth $8,589,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in POWL. Wellington Management Group LLP acquired a new position in Powell Industries during the third quarter worth $30,038,000. Raymond James Financial Inc. acquired a new stake in Powell Industries in the 4th quarter valued at about $22,556,000. WCM Investment Management LLC bought a new position in Powell Industries during the fourth quarter worth about $14,261,000. Federated Hermes Inc. increased its position in Powell Industries by 47,368.9% during the fourth quarter. Federated Hermes Inc. now owns 62,659 shares of the industrial products company's stock worth $13,888,000 after buying an additional 62,527 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Powell Industries in the third quarter valued at approximately $12,176,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

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 Performance

Shares of POWL stock traded down $7.21 during midday trading on Wednesday, hitting $166.10. 89,831 shares of the company were exchanged, compared to its average volume of 432,580. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98. The firm has a market capitalization of $2.00 billion, a P/E ratio of 12.63, a PEG ratio of 0.98 and a beta of 0.67. The firm's 50 day moving average price is $180.17 and its two-hundred day moving average price is $233.31.

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

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is currently 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.