Wesbanco Bank Inc. Buys New Position in Powell Industries, Inc. (NASDAQ:POWL)

Wesbanco Bank Inc. bought a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,800 shares of the industrial products company's stock, valued at approximately $818,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of Powell Industries in the fourth quarter valued at approximately $43,000. WCM Investment Management LLC acquired a new position in shares of Powell Industries in the fourth quarter valued at approximately $14,261,000. Stephens Investment Management Group LLC grew its holdings in Powell Industries by 17.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 72,016 shares of the industrial products company's stock valued at $15,962,000 after buying an additional 10,725 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Powell Industries by 20.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,796 shares of the industrial products company's stock valued at $841,000 after acquiring an additional 638 shares during the last quarter. Finally, Liberty Capital Management Inc. acquired a new position in shares of Powell Industries during the 4th quarter valued at about $563,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Trading Up 3.8%

NASDAQ:POWL traded up $7.04 on Wednesday, hitting $192.80. 258,102 shares of the stock were exchanged, compared to its average volume of 422,989. The stock has a market cap of $2.33 billion, a PE ratio of 14.64, a PEG ratio of 0.98 and a beta of 0.73. Powell Industries, Inc. has a fifty-two week low of $127.01 and a fifty-two week high of $364.98. The stock has a fifty day moving average of $177.92 and a 200-day moving average of $206.61.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its 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. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. 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 business earned $2.75 EPS. The company's revenue for the quarter 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 company also recently announced 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 0.55%. The ex-dividend date is Wednesday, May 21st. Powell Industries's payout ratio is currently 7.52%.

Wall Street Analysts Forecast Growth

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

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.