GAMMA Investing LLC Purchases 101,905 Shares of Powell Industries, Inc. (NASDAQ:POWL)

GAMMA Investing LLC boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 22,009.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,368 shares of the industrial products company's stock after purchasing an additional 101,905 shares during the quarter. GAMMA Investing LLC owned about 0.85% of Powell Industries worth $17,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of POWL. Sei Investments Co. lifted its stake in shares of Powell Industries by 3.1% during the 4th quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company's stock worth $631,000 after buying an additional 85 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in Powell Industries by 3.7% in the 4th quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company's stock valued at $537,000 after acquiring an additional 87 shares during the period. PNC Financial Services Group Inc. lifted its position in Powell Industries by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company's stock worth $217,000 after acquiring an additional 90 shares during the last quarter. GeoWealth Management LLC lifted its position 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 acquiring an additional 99 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock worth $44,000 after acquiring an additional 100 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Up 4.6%

Shares of POWL traded up $8.39 during midday trading on Friday, reaching $190.99. 218,373 shares of the stock were exchanged, compared to its average volume of 424,073. The stock's 50 day simple moving average is $177.42 and its 200 day simple moving average is $208.38. The company has a market cap of $2.30 billion, a P/E ratio of 14.50, a PEG ratio of 0.98 and a beta of 0.72. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.47. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The business had revenue of $278.63 million during the quarter, compared to analysts' expectations of $282.68 million. During the same quarter in the previous year, the company earned $2.75 EPS. The business's revenue was up 9.2% on a year-over-year basis. As a group, analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, May 21st. Powell Industries's dividend payout ratio is currently 7.52%.

Wall Street Analyst Weigh In

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 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.