Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,823 shares of the industrial products company's stock after purchasing an additional 15,864 shares during the period. Northern Trust Corp owned about 0.97% of Powell Industries worth $25,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. acquired a new stake in shares of Powell Industries in the 4th quarter valued at approximately $248,000. Merit Financial Group LLC raised its position 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 acquiring an additional 2,508 shares in the last quarter. Bay Rivers Group lifted its holdings in Powell Industries by 105.4% in the fourth quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company's stock valued at $508,000 after acquiring an additional 1,177 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Powell Industries by 101.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock worth $5,962,000 after purchasing an additional 13,531 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of Powell Industries during the 4th quarter worth $251,000. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Stock Performance

POWL stock traded up $1.86 during midday trading on Friday, hitting $179.62. 63,611 shares of the stock were exchanged, compared to its average volume of 430,909. The stock's 50-day moving average price is $177.93 and its 200-day moving average price is $222.20. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.98 and a beta of 0.78. 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 released 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 business 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 business's revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 EPS. Research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a report 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.