Ieq Capital LLC Acquires Shares of 3,255 Powell Industries, Inc. (NASDAQ:POWL)

Ieq Capital LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,255 shares of the industrial products company’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Freedom Day Solutions LLC increased its holdings in Powell Industries by 15.4% in the fourth quarter. Freedom Day Solutions LLC now owns 8,677 shares of the industrial products company’s stock valued at $1,923,000 after buying an additional 1,160 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Powell Industries by 7.1% during the fourth quarter. Private Advisor Group LLC now owns 2,238 shares of the industrial products company’s stock worth $496,000 after purchasing an additional 148 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Powell Industries by 5.0% during the fourth quarter. Principal Financial Group Inc. now owns 54,059 shares of the industrial products company’s stock worth $11,982,000 after purchasing an additional 2,552 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Powell Industries during the fourth quarter worth about $1,489,000. Finally, Principal Securities Inc. purchased a new stake in shares of Powell Industries during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 0.5 %

POWL opened at $170.46 on Wednesday. The firm has a market capitalization of $2.06 billion, a PE ratio of 12.94, a PEG ratio of 0.98 and a beta of 0.87. Powell Industries, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98. The firm’s 50-day moving average price is $233.19 and its 200 day moving average price is $235.02.

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

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.63%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries’s payout ratio is presently 8.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on POWL. StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Sunday. Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries 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.