Ameriprise Financial Inc. Purchases 9,923 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Ameriprise Financial Inc. raised its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,215 shares of the industrial products company's stock after purchasing an additional 9,923 shares during the quarter. Ameriprise Financial Inc. owned 0.37% of Powell Industries worth $10,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of POWL. Principal Securities Inc. purchased a new stake in shares of Powell Industries during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake 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 valued at $37,000 after acquiring an additional 132 shares during the last quarter. Blue Trust Inc. purchased a new stake in Powell Industries during the fourth quarter valued at about $40,000. GeoWealth Management LLC lifted its stake in Powell Industries by 123.8% during the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of Powell Industries in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Powell Industries Stock Up 0.8%

Shares of Powell Industries stock traded up $1.43 during trading on Friday, reaching $174.70. The company's stock had a trading volume of 245,498 shares, compared to its average volume of 427,581. Powell Industries, Inc. has a 52-week low of $127.01 and a 52-week high of $364.98. The firm's 50-day moving average is $178.68 and its two-hundred day moving average is $216.71. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.98 and a beta of 0.78.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.47. The business had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The company's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 earnings per share. On average, equities research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.61%. Powell Industries's dividend payout ratio (DPR) is currently 7.52%.

Analysts Set New Price Targets

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

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.