Horizon Investments LLC Raises Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Horizon Investments LLC raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 136.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,290 shares of the industrial products company’s stock after purchasing an additional 5,362 shares during the period. Horizon Investments LLC owned 0.08% of Powell Industries worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares during the period. Geode Capital Management LLC grew its holdings in Powell Industries by 3.9% during the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after purchasing an additional 9,692 shares during the period. Wellington Management Group LLP bought a new position in Powell Industries during the third quarter valued at $30,038,000. Raymond James Financial Inc. bought a new position in Powell Industries during the fourth quarter valued at $22,556,000. Finally, Victory Capital Management Inc. grew its holdings in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after purchasing an additional 90,504 shares during the period. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on POWL. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company.

Powell Industries Stock Up 1.0 %

NASDAQ POWL opened at $181.50 on Wednesday. The stock’s 50-day simple moving average is $212.71 and its two-hundred day simple moving average is $234.41. Powell Industries, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.98 and a beta of 0.83.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. On average, equities analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.59%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is currently 8.12%.

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.