Principal Financial Group Inc. increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,059 shares of the industrial products company's stock after acquiring an additional 2,552 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of Powell Industries worth $11,982,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Cumberland Partners Ltd purchased a new position in Powell Industries in the 3rd quarter valued at approximately $555,000. Loomis Sayles & Co. L P purchased a new stake in shares of Powell Industries in the 3rd quarter worth about $7,225,000. Victory Capital Management Inc. grew its stake in Powell Industries by 1,119.3% in the 3rd 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. raised its position in Powell Industries by 34.8% during the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock worth $2,430,000 after acquiring an additional 2,827 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company's stock valued at $4,723,000 after purchasing an additional 3,385 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Powell Industries Price Performance
POWL stock traded down $14.96 during midday trading on Monday, hitting $154.75. The stock had a trading volume of 368,185 shares, compared to its average volume of 530,352. Powell Industries, Inc. has a 12-month low of $122.00 and a 12-month high of $364.98. The firm has a market cap of $1.87 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. The company's 50-day moving average price is $228.94 and its 200 day moving average price is $235.21.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.69%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries's payout ratio is presently 8.12%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on POWL shares. Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price on the stock. StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research note on Sunday, February 23rd. Finally, Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th.
Read Our Latest Research Report on Powell Industries
Powell Industries Profile
(
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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