Lazard Asset Management LLC Has $1.11 Million Stake in Powell Industries, Inc. (NASDAQ:POWL)

Lazard Asset Management LLC raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 44.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,988 shares of the industrial products company's stock after purchasing an additional 1,544 shares during the period. Lazard Asset Management LLC's holdings in Powell Industries were worth $1,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Powell Industries during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in shares of Powell Industries by 455.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock worth $37,000 after purchasing an additional 132 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Powell Industries during the 4th quarter worth about $40,000. GeoWealth Management LLC raised its stake in shares of Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after purchasing an additional 99 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of Powell Industries during the 4th quarter worth about $43,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $1.23 during mid-day trading on Thursday, reaching $173.27. 260,980 shares of the company traded hands, compared to its average volume of 428,487. The stock has a market cap of $2.09 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The company's fifty day moving average is $178.81 and its two-hundred day moving average is $219.27. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week 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 EPS for the quarter, beating 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 return on equity of 35.48% and a net margin of 15.15%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.75 EPS. Research analysts forecast 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 issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio is 7.52%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Powell Industries from a "hold" rating to a "buy" rating in a research note 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.