Orion Portfolio Solutions LLC lessened its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 56.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,555 shares of the industrial products company's stock after selling 16,396 shares during the quarter. Orion Portfolio Solutions LLC owned 0.10% of Powell Industries worth $2,783,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Powell Industries in the fourth quarter valued at about $26,000. Quest Partners LLC purchased a new position in Powell Industries in the third quarter worth about $35,000. Smartleaf Asset Management LLC lifted its position in Powell Industries by 455.2% in the 4th 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 in the last quarter. Blue Trust Inc. purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $40,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of Powell Industries by 100.0% during 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 period. Institutional investors own 89.77% of the company's stock.
Analysts Set New Price Targets
POWL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, Roth Mkm began coverage on shares of Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price for the company.
View Our Latest Research Report on Powell Industries
Powell Industries Price Performance
Powell Industries stock traded down $5.42 during midday trading on Friday, reaching $164.45. The company's stock had a trading volume of 564,420 shares, compared to its average volume of 429,169. The stock's 50-day simple moving average is $192.23 and its 200-day simple moving average is $235.70. The stock has a market capitalization of $1.98 billion, a P/E ratio of 12.49, a PEG ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping 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%. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were issued a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio 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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