Powell Industries, Inc. (NASDAQ:POWL) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,988 shares of the industrial products company's stock after buying an additional 1,544 shares during the period. Lazard Asset Management LLC's holdings in Powell Industries were worth $1,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Powell Industries by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock valued at $152,508,000 after buying an additional 24,997 shares during the period. American Century Companies Inc. raised its holdings in Powell Industries by 8.3% in the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock valued at $77,965,000 after buying an additional 27,029 shares during the period. Invesco Ltd. raised its holdings in 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. First Trust Advisors LP raised its holdings in Powell Industries by 24.1% in the 4th quarter. First Trust Advisors LP now owns 122,825 shares of the industrial products company's stock valued at $27,224,000 after buying an additional 23,839 shares during the period. Finally, Northern Trust Corp increased its stake in Powell Industries by 15.7% during the fourth quarter. Northern Trust Corp now owns 116,823 shares of the industrial products company's stock worth $25,894,000 after purchasing an additional 15,864 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Powell Industries Stock Up 0.8%

NASDAQ:POWL traded up $1.43 on Friday, reaching $174.70. 245,498 shares of the company's stock were exchanged, compared to its average volume of 427,581. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The business has a fifty day moving average of $178.68 and a 200-day moving average of $216.71. Powell Industries, Inc. has a 52-week low of $127.01 and a 52-week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly 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 company had revenue of $278.63 million for 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 business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.75 earnings per share. As a group, equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio is presently 7.52%.

About Powell Industries

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.