101,765 Shares in Powell Industries, Inc. (NASDAQ:POWL) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 101,765 shares of the industrial products company’s stock, valued at approximately $22,556,000. Raymond James Financial Inc. owned about 0.84% of Powell Industries as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Powell Industries by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company’s stock worth $152,508,000 after purchasing an additional 24,997 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Powell Industries by 8.3% in the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company’s stock valued at $77,965,000 after acquiring an additional 27,029 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Powell Industries by 134.0% during the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company’s stock valued at $58,768,000 after acquiring an additional 151,850 shares in the last quarter. Geode Capital Management LLC grew its position in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Powell Industries by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock worth $20,942,000 after purchasing an additional 637 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

Powell Industries Stock Up 0.2 %

Shares of Powell Industries stock opened at $167.24 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a twelve month low of $126.80 and a twelve month high of $364.98. The company’s fifty day moving average is $177.01 and its 200 day moving average is $232.06.

Powell Industries (NASDAQ:POWL) last issued its quarterly 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%. As a group, equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were paid a $0.2675 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s dividend payout ratio is currently 8.12%.

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.