Perigon Wealth Management LLC Makes New $251,000 Investment in Powell Industries, Inc. (NASDAQ:POWL)

Perigon Wealth Management LLC acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,133 shares of the industrial products company's stock, valued at approximately $251,000.

Several other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Powell Industries by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 5,294 shares of the industrial products company's stock valued at $759,000 after purchasing an additional 151 shares during the last quarter. Creative Planning bought a new position in Powell Industries in the 2nd quarter valued at $310,000. GAMMA Investing LLC increased its stake in shares of Powell Industries by 62.9% in the 3rd quarter. GAMMA Investing LLC now owns 466 shares of the industrial products company's stock valued at $103,000 after buying an additional 180 shares during the period. Diversified Trust Co raised its position in shares of Powell Industries by 7.1% during the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company's stock worth $385,000 after acquiring an additional 115 shares during the last quarter. Finally, City Center Advisors LLC acquired a new position in shares of Powell Industries during the third quarter valued at $461,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on POWL. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective for the company. StockNews.com cut shares of Powell Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th.

Powell Industries Trading Down 0.0 %

Shares of NASDAQ:POWL traded down $0.01 during midday trading on Thursday, hitting $244.84. The company had a trading volume of 588,766 shares, compared to its average volume of 495,763. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The firm has a fifty day simple moving average of $249.78 and a 200 day simple moving average of $229.25. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.25 and a beta of 0.87.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 35.68% and a net margin of 14.80%. Equities analysts forecast that Powell Industries, Inc. will post 13.7 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.44%. The ex-dividend date is Wednesday, February 19th. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

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.