Raymond James Financial Services Advisors Inc. Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,345 shares of the industrial products company’s stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates purchased a new position in shares of Powell Industries during the 4th quarter valued at approximately $1,085,000. SG Americas Securities LLC lifted its holdings in Powell Industries by 50.6% in the 4th quarter. SG Americas Securities LLC now owns 8,026 shares of the industrial products company’s stock valued at $709,000 after purchasing an additional 2,695 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Powell Industries by 33.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,196 shares of the industrial products company’s stock worth $1,011,000 after purchasing an additional 3,040 shares during the last quarter. American Century Companies Inc. boosted its stake in Powell Industries by 79.8% during the 3rd quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock worth $8,444,000 after purchasing an additional 45,209 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Powell Industries by 15.4% during the 3rd quarter. Deutsche Bank AG now owns 4,495 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the transaction, the insider now owns 714,643 shares of the company’s stock, valued at approximately $108,168,364.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the transaction, the insider now owns 714,643 shares of the company’s stock, valued at approximately $108,168,364.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the sale, the insider now owns 1,688,628 shares in the company, valued at $294,462,950.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,000 shares of company stock valued at $4,850,830. 2.20% of the stock is currently owned by insiders.

Powell Industries Stock Up 1.7 %

Shares of POWL opened at $130.34 on Friday. Powell Industries, Inc. has a 52-week low of $38.91 and a 52-week high of $197.87. The firm’s fifty day moving average is $148.81 and its two-hundred day moving average is $108.63. The stock has a market cap of $1.56 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.98. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $182.04 million. Powell Industries had a net margin of 10.10% and a return on equity of 22.30%. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, research analysts anticipate that Powell Industries, Inc. will post 7.54 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.262 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.05 annualized dividend and a dividend yield of 0.80%. Powell Industries’s payout ratio is 16.64%.

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.