Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in Powell Industries, Inc. (NASDAQ:POWL) by 2,516.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,751 shares of the industrial products company’s stock after purchasing an additional 37,270 shares during the period. Cerity Partners LLC’s holdings in Powell Industries were worth $8,589,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in POWL. Sierra Summit Advisors LLC purchased a new stake in Powell Industries in the 4th quarter worth approximately $550,000. Federated Hermes Inc. grew its stake in shares of Powell Industries by 47,368.9% in the fourth quarter. Federated Hermes Inc. now owns 62,659 shares of the industrial products company’s stock valued at $13,888,000 after buying an additional 62,527 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Powell Industries by 4.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 53,408 shares of the industrial products company’s stock valued at $11,838,000 after acquiring an additional 2,382 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Powell Industries by 58.5% during the 4th quarter. Wells Fargo & Company MN now owns 44,830 shares of the industrial products company’s stock valued at $9,937,000 after purchasing an additional 16,544 shares in the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in shares of Powell Industries by 19.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 4,432 shares of the industrial products company’s stock worth $982,000 after acquiring an additional 731 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Price Performance

POWL stock opened at $172.96 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a 1-year low of $122.00 and a 1-year high of $364.98. The firm has a fifty day moving average price of $184.25 and a two-hundred day moving average price of $234.20.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping 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%. As a group, analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is 8.12%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note 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.