Illumine Investment Management LLC Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Illumine Investment Management LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, Holdings Channel reports. The firm acquired 7,068 shares of the industrial products company’s stock, valued at approximately $1,567,000.

Other institutional investors have also added to or reduced their stakes in the company. Cumberland Partners Ltd bought a new position in Powell Industries in the 3rd quarter worth $555,000. Loomis Sayles & Co. L P purchased a new stake in shares of Powell Industries in the 3rd quarter worth about $7,225,000. Victory Capital Management Inc. grew its position in shares of Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after buying an additional 90,504 shares during the period. Great Valley Advisor Group Inc. grew its position in shares of Powell Industries by 34.8% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock worth $2,430,000 after buying an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Powell Industries by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after buying an additional 2,793 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Performance

Shares of POWL stock opened at $165.48 on Friday. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The company’s 50-day moving average is $230.47 and its 200 day moving average is $234.11. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. As a group, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 annualized dividend and a yield of 0.65%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is currently 8.12%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Sunday, February 23rd. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.