Tema Etfs LLC Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Tema Etfs LLC acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,016 shares of the industrial products company's stock, valued at approximately $447,000.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC increased its holdings in Powell Industries by 198.1% in the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company's stock worth $13,536,000 after purchasing an additional 40,515 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after purchasing an additional 2,793 shares in the last quarter. Merit Financial Group LLC increased its holdings in Powell Industries by 103.9% in the fourth quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company's stock worth $1,091,000 after purchasing an additional 2,508 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in Powell Industries in the fourth quarter worth approximately $248,000. Finally, J2 Capital Management Inc bought a new stake in Powell Industries in the fourth quarter worth approximately $495,000. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $1.43 during midday trading on Friday, hitting $174.70. 245,498 shares of the stock traded hands, compared to its average volume of 427,581. The company has a market cap of $2.11 billion, a PE ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a one year low of $127.01 and a one year high of $364.98. The business has a 50 day moving average price of $178.68 and a two-hundred day moving average price of $217.55.

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

Powell Industries Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 annualized dividend and a dividend yield of 0.61%. Powell Industries's dividend payout ratio is 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.