CX Institutional Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

CX Institutional purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,333 shares of the industrial products company's stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of POWL. Vanguard Group Inc. boosted its stake in shares of Powell Industries by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock worth $152,508,000 after acquiring an additional 24,997 shares in the last quarter. American Century Companies Inc. increased its position in shares of Powell Industries by 8.3% during the fourth quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock valued at $77,965,000 after acquiring an additional 27,029 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Powell Industries by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock valued at $66,023,000 after purchasing an additional 16,002 shares during the period. Invesco Ltd. raised its holdings in shares of Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock valued at $58,768,000 after buying an additional 151,850 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Powell Industries by 24.1% during the fourth quarter. First Trust Advisors LP now owns 122,825 shares of the industrial products company's stock worth $27,224,000 after purchasing an additional 23,839 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Stock Performance

POWL stock traded down $1.01 during midday trading on Wednesday, reaching $179.89. 172,149 shares of the company were exchanged, compared to its average volume of 423,408. Powell Industries, Inc. has a 1-year low of $127.01 and a 1-year high of $364.98. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.72. The stock's 50-day simple moving average is $180.04 and its 200 day simple moving average is $203.87.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.34 by $0.47. The business had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. On average, research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's payout ratio is currently 7.52%.

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.