KLP Kapitalforvaltning AS Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

KLP Kapitalforvaltning AS acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,100 shares of the industrial products company's stock, valued at approximately $465,000.

Several other large investors also recently made changes to their positions in POWL. Principal Securities Inc. acquired a new stake in Powell Industries in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after buying an additional 132 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Powell Industries during the 4th quarter valued at about $40,000. SBI Securities Co. Ltd. acquired a new position in Powell Industries during the 4th quarter worth approximately $57,000. Finally, Farther Finance Advisors LLC boosted its holdings in Powell Industries by 90.5% in the 4th quarter. Farther Finance Advisors LLC now owns 381 shares of the industrial products company's stock worth $85,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Powell Industries Price Performance

Shares of NASDAQ:POWL traded down $5.04 during midday trading on Tuesday, reaching $163.77. The company had a trading volume of 370,028 shares, compared to its average volume of 430,891. The stock has a market capitalization of $1.98 billion, a P/E ratio of 12.44, a PEG ratio of 0.98 and a beta of 0.67. The stock's fifty day moving average price is $187.71 and its 200-day moving average price is $235.11. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98.

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, topping the consensus estimate 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, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's payout ratio is currently 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.