First Trust Advisors LP Raises Position in Powell Industries, Inc. (NASDAQ:POWL)

First Trust Advisors LP lifted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,825 shares of the industrial products company's stock after purchasing an additional 23,839 shares during the period. First Trust Advisors LP owned approximately 1.02% of Powell Industries worth $27,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Freedom Investment Management Inc. lifted its stake in shares of Powell Industries by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock valued at $537,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 99 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Powell Industries by 180.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,200 shares of the industrial products company's stock valued at $931,000 after purchasing an additional 2,700 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Powell Industries in the fourth quarter valued at approximately $1,667,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Powell Industries during the 4th quarter worth approximately $1,296,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

POWL stock traded up $0.53 on Tuesday, reaching $185.85. The company had a trading volume of 152,324 shares, compared to its average volume of 431,665. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The company's fifty day moving average is $173.07 and its 200 day moving average is $228.91. The company has a market cap of $2.24 billion, a P/E ratio of 14.11, a PEG ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio 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.