Horizon Investments LLC Increases Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Horizon Investments LLC lifted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 136.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,290 shares of the industrial products company's stock after purchasing an additional 5,362 shares during the quarter. Horizon Investments LLC owned about 0.08% of Powell Industries worth $2,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Powell Industries during the third quarter valued at approximately $30,038,000. Raymond James Financial Inc. purchased a new stake in shares of Powell Industries during the 4th quarter valued at $22,556,000. Victory Capital Management Inc. lifted its holdings in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after acquiring an additional 90,504 shares during the last quarter. WCM Investment Management LLC purchased a new position in Powell Industries in the fourth quarter worth $14,261,000. Finally, Sanctuary Advisors LLC bought a new position in Powell Industries in the third quarter valued at $12,176,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Price Performance

Powell Industries stock traded up $2.86 during mid-day trading on Friday, hitting $184.22. The company's stock had a trading volume of 585,612 shares, compared to its average volume of 413,307. The business has a 50 day moving average price of $209.85 and a 200-day moving average price of $234.36. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83.

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Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share 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, equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal 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 $0.2675 dividend. 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 0.58%. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on POWL shares. Roth Capital raised Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Finally, Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a "buy" rating and a $312.00 price target on the stock.

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.