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

Raymond James Financial Inc. bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 101,765 shares of the industrial products company’s stock, valued at approximately $22,556,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Powell Industries during the 4th quarter worth approximately $26,000. Quest Partners LLC bought a new position in Powell Industries in the 3rd quarter valued at $35,000. Smartleaf Asset Management LLC raised its position in Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 132 shares during the last quarter. Blue Trust Inc. bought a new position in Powell Industries in the 4th quarter valued at $40,000. Finally, SBI Securities Co. Ltd. bought a new position in Powell Industries in the 4th quarter valued at $57,000. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

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

Powell Industries Stock Performance

NASDAQ POWL opened at $173.36 on Friday. The stock has a fifty day moving average of $215.24 and a 200-day moving average of $233.71. The stock has a market capitalization of $2.09 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS 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%. Equities research analysts forecast 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. Stockholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) is 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.