Meeder Asset Management Inc. Buys Shares of 292 Powell Industries, Inc. (NASDAQ:POWL)

Meeder Asset Management Inc. bought a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 292 shares of the industrial products company’s stock, valued at approximately $65,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hanseatic Management Services Inc. acquired a new stake in Powell Industries during the 4th quarter worth about $248,000. Merit Financial Group LLC boosted its holdings 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 purchasing an additional 2,508 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Powell Industries during the third quarter valued at approximately $10,760,000. Bay Rivers Group increased its stake in Powell Industries by 105.4% in the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after buying an additional 1,177 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Powell Industries by 101.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock worth $5,962,000 after buying an additional 13,531 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries Trading Up 3.3 %

Powell Industries stock opened at $175.89 on Wednesday. Powell Industries, Inc. has a 1-year low of $122.00 and a 1-year high of $364.98. The firm’s fifty day simple moving average is $199.77 and its 200-day simple moving average is $236.15. The company has a market capitalization of $2.12 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.98 and a beta of 0.83.

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 return on equity of 35.48% and a net margin of 15.15%. On average, equities research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were issued a $0.2675 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a yield of 0.61%. The ex-dividend date was Wednesday, February 19th. Powell Industries’s payout ratio is 8.12%.

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.