Ieq Capital LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,255 shares of the industrial products company's stock, valued at approximately $721,000.
A number of other institutional investors and hedge funds have also made changes to their positions in POWL. Covestor Ltd increased its position in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 41 shares during the period. Chartwell Investment Partners LLC increased its position in Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company's stock valued at $1,712,000 after acquiring an additional 60 shares during the period. Farther Finance Advisors LLC increased its position in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 105 shares during the period. KBC Group NV increased its position in Powell Industries by 35.1% in the 4th quarter. KBC Group NV now owns 435 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 113 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Powell Industries in the 4th quarter valued at approximately $26,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price on the stock. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research report on Sunday, February 23rd.
Check Out Our Latest Stock Analysis on POWL
Powell Industries Stock Performance
Shares of POWL stock traded up $4.23 during mid-day trading on Friday, hitting $169.71. 530,722 shares of the stock traded hands, compared to its average volume of 535,224. Powell Industries, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. The company's 50-day simple moving average is $228.94 and its 200-day simple moving average is $234.16.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. Analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.
Powell Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. The ex-dividend date is Wednesday, February 19th. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.63%. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.
Powell Industries Company Profile
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Free Report)
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.
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