LPL Financial LLC Increases Stake in Powell Industries, Inc. (NASDAQ:POWL)

LPL Financial LLC grew its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,808 shares of the industrial products company's stock after buying an additional 5,655 shares during the period. LPL Financial LLC owned approximately 0.31% of Powell Industries worth $8,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in shares of Powell Industries during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in Powell Industries by 455.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. Blue Trust Inc. purchased a new position in shares of Powell Industries during the fourth quarter worth approximately $40,000. SBI Securities Co. Ltd. bought a new stake in shares of Powell Industries in the 4th quarter worth approximately $57,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 last quarter. Institutional investors own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on POWL. StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective on the stock.

Powell Industries Trading Down 5.6 %

Shares of NASDAQ:POWL traded down $10.21 during trading on Thursday, reaching $172.96. 394,394 shares of the company traded hands, compared to its average volume of 433,614. 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 $2.09 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.98 and a beta of 0.67. The business's fifty day moving average is $184.25 and its 200-day moving average is $234.20.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. On average, sell-side analysts predict 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 dividend of $0.2675 per share. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries's dividend payout ratio is currently 8.12%.

About Powell Industries

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.