Envestnet Asset Management Inc. Purchases 2,382 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Envestnet Asset Management Inc. lifted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,408 shares of the industrial products company's stock after buying an additional 2,382 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of Powell Industries worth $11,838,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in POWL. Principal Securities Inc. purchased a new position in Powell Industries in the 4th 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 worth $37,000 after acquiring an additional 132 shares in the last quarter. Blue Trust Inc. bought a new position in Powell Industries in the fourth quarter valued at $40,000. Tucker Asset Management LLC purchased a new stake in Powell Industries during the fourth quarter valued at about $43,000. Finally, Prestige Wealth Management Group LLC lifted its stake in Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock worth $44,000 after purchasing an additional 100 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

NASDAQ:POWL traded up $14.35 during trading hours on Wednesday, reaching $180.20. The company's stock had a trading volume of 85,240 shares, compared to its average volume of 466,691. The firm has a 50-day simple moving average of $175.05 and a 200-day simple moving average of $231.02. Powell Industries, Inc. has a 1 year low of $127.01 and a 1 year high of $364.98. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating 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%. Equities analysts anticipate 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 $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 0.59%. Powell Industries's dividend payout ratio (DPR) is currently 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.