Wells Fargo & Company MN Grows Position in Powell Industries, Inc. (NASDAQ:POWL)

Wells Fargo & Company MN grew its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 58.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,830 shares of the industrial products company's stock after purchasing an additional 16,544 shares during the quarter. Wells Fargo & Company MN owned about 0.37% of Powell Industries worth $9,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hanseatic Management Services Inc. purchased a new stake in Powell Industries in the fourth quarter worth $248,000. Merit Financial Group LLC boosted its holdings in shares of Powell Industries by 103.9% during the 4th quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company's stock valued at $1,091,000 after buying an additional 2,508 shares in the last quarter. Bay Rivers Group grew its position in shares of Powell Industries by 105.4% in the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company's stock worth $508,000 after buying an additional 1,177 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Powell Industries by 101.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock worth $5,962,000 after acquiring an additional 13,531 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Powell Industries in the 4th quarter worth about $251,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Up 4.1 %

Powell Industries stock traded up $6.47 during mid-day trading on Tuesday, hitting $165.85. The company had a trading volume of 207,186 shares, compared to its average volume of 434,410. Powell Industries, Inc. has a 12 month low of $127.01 and a 12 month high of $364.98. The stock's 50 day moving average price is $175.05 and its two-hundred day moving average price is $231.02. The company has a market capitalization of $2.00 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly 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 net margin of 15.15% and a return on equity of 35.48%. Equities research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were given a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.65%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is 8.12%.

Powell Industries 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.