Proficio Capital Partners LLC bought a new position in 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 fund bought 13,964 shares of the industrial products company's stock, valued at approximately $3,095,000. Proficio Capital Partners LLC owned 0.12% of Powell Industries as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in POWL. State Street Corp increased its position in Powell Industries by 0.9% during the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company's stock valued at $80,520,000 after purchasing an additional 3,403 shares during the period. Geode Capital Management LLC increased its position in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company's stock valued at $57,071,000 after purchasing an additional 9,692 shares during the period. Wellington Management Group LLP purchased a new position in Powell Industries during the 3rd quarter valued at $30,038,000. Victory Capital Management Inc. increased its position in Powell Industries by 1,119.3% during 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 purchasing an additional 90,504 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Powell Industries by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company's stock valued at $20,942,000 after purchasing an additional 637 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
POWL has been the topic of a number of research analyst reports. StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Roth Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, Roth Mkm started coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price target for the company.
Read Our Latest Research Report on POWL
Powell Industries Stock Performance
Shares of Powell Industries stock traded up $2.86 during midday trading on Friday, hitting $184.22. The company had a trading volume of 585,612 shares, compared to its average volume of 413,291. The stock has a market capitalization of $2.22 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.98 and a beta of 0.83. The company has a 50 day moving average of $209.85 and a 200 day moving average of $233.80. 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 posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were paid a $0.2675 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.58%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio is presently 8.12%.
About Powell Industries
(
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.
Further Reading
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