Price T Rowe Associates Inc. MD increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 108.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,378 shares of the industrial products company's stock after acquiring an additional 3,322 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.05% of Powell Industries worth $1,414,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hanseatic Management Services Inc. acquired a new stake in Powell Industries during the 4th quarter valued at approximately $248,000. Merit Financial Group LLC grew its position in shares of Powell Industries by 103.9% during the fourth quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company's stock worth $1,091,000 after buying an additional 2,508 shares in the last quarter. Bay Rivers Group increased its stake in shares of Powell Industries by 105.4% in the fourth quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company's stock worth $508,000 after buying an additional 1,177 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Powell Industries by 101.5% in the third quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company's stock valued at $5,962,000 after acquiring an additional 13,531 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new position in Powell Industries during the 4th quarter valued at $251,000. Hedge funds and other institutional investors own 89.77% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th.
View Our Latest Stock Report on POWL
Powell Industries Trading Down 1.8 %
Shares of NASDAQ POWL opened at $174.77 on Friday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a twelve month low of $127.01 and a twelve month high of $364.98. The business has a 50 day simple moving average of $175.80 and a 200-day simple moving average of $224.08.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.75 earnings per share. As a group, equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.
Powell Industries Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 dividend on an annualized basis and a yield of 0.61%. Powell Industries's dividend payout ratio is currently 8.12%.
Powell Industries Profile
(
Free Report)
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.
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