Spire Wealth Management Purchases 2,378 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Spire Wealth Management increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 105.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,643 shares of the industrial products company's stock after purchasing an additional 2,378 shares during the quarter. Spire Wealth Management's holdings in Powell Industries were worth $1,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cumberland Partners Ltd bought a new position in Powell Industries in the 3rd quarter worth about $555,000. Loomis Sayles & Co. L P bought a new position in shares of Powell Industries during the 3rd quarter worth approximately $7,225,000. Victory Capital Management Inc. lifted its position in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after acquiring an additional 90,504 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in Powell Industries by 34.8% in the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock valued at $2,430,000 after acquiring an additional 2,827 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after purchasing an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $16.01 during trading on Friday, hitting $228.83. 874,293 shares of the company were exchanged, compared to its average volume of 477,425. Powell Industries, Inc. has a 12-month low of $122.00 and a 12-month high of $364.98. The company has a fifty day moving average price of $249.01 and a 200-day moving average price of $230.50. The firm has a market capitalization of $2.76 billion, a PE ratio of 17.38, a P/E/G ratio of 1.28 and a beta of 0.87.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 36.66% and a net margin of 15.15%. Research analysts anticipate that Powell Industries, Inc. will post 13.7 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, February 19th. 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 0.47%. Powell Industries's dividend payout ratio (DPR) is 8.05%.

Wall Street Analyst Weigh In

POWL has been the topic of a number of research analyst reports. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They set a "buy" rating and a $312.00 price target on the stock. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Friday.

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.