Wesbanco Bank Inc. Acquires Shares of 4,800 Powell Industries, Inc. (NASDAQ:POWL)

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

Several other institutional investors have also added to or reduced their stakes in POWL. Vest Financial LLC purchased a new position in shares of Powell Industries in the 1st quarter worth $817,000. Bay Rivers Group boosted its holdings in shares of Powell Industries by 7.4% in the 1st quarter. Bay Rivers Group now owns 2,464 shares of the industrial products company's stock valued at $420,000 after acquiring an additional 170 shares during the last quarter. Strong Tower Advisory Services boosted its holdings in Powell Industries by 306.6% during the first quarter. Strong Tower Advisory Services now owns 5,643 shares of the industrial products company's stock worth $953,000 after buying an additional 4,255 shares in the last quarter. Rhumbline Advisers boosted its holdings in Powell Industries by 0.5% during the first quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company's stock worth $4,337,000 after buying an additional 118 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Powell Industries by 22,009.7% during the first quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company's stock valued at $17,436,000 after purchasing an additional 101,905 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Trading Down 2.8%

Shares of POWL stock traded down $5.48 on Friday, reaching $187.85. 237,167 shares of the stock were exchanged, compared to its average volume of 422,473. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.98 and a beta of 0.73. The business's 50 day moving average price is $179.46 and its 200 day moving average price is $205.33.

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

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio is presently 7.52%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research 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.