NewEdge Advisors LLC Purchases Shares of 5,849 Powell Industries, Inc. (NASDAQ:POWL)

NewEdge Advisors LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,849 shares of the industrial products company's stock, valued at approximately $1,296,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in shares of Powell Industries during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in 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 acquiring an additional 132 shares during the last quarter. Blue Trust Inc. acquired a new position in Powell Industries during the fourth quarter worth about $40,000. Tucker Asset Management LLC bought a new position in shares of Powell Industries in the fourth quarter worth about $43,000. Finally, Prestige Wealth Management Group LLC lifted its stake in Powell Industries by 100.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

Shares of NASDAQ:POWL traded up $2.26 during midday trading on Friday, hitting $186.60. 219,859 shares of the stock were exchanged, compared to its average volume of 433,840. The business's 50-day moving average price is $173.25 and its 200 day moving average price is $229.58. Powell Industries, Inc. has a 12 month low of $127.01 and a 12 month high of $364.98. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.17, a P/E/G 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 EPS 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 expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were paid 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 0.57%. Powell Industries's dividend payout ratio is presently 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.