Navellier & Associates Inc. Boosts Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Navellier & Associates Inc. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,261 shares of the industrial products company’s stock after purchasing an additional 10,188 shares during the period. Powell Industries comprises 0.9% of Navellier & Associates Inc.’s portfolio, making the stock its 25th largest position. Navellier & Associates Inc. owned 0.27% of Powell Industries worth $7,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ieq Capital LLC purchased a new stake in Powell Industries during the 4th quarter worth $721,000. Freedom Day Solutions LLC grew its stake in shares of Powell Industries by 15.4% during the fourth quarter. Freedom Day Solutions LLC now owns 8,677 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 1,160 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Powell Industries by 7.1% during the fourth quarter. Private Advisor Group LLC now owns 2,238 shares of the industrial products company’s stock worth $496,000 after acquiring an additional 148 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Powell Industries by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 54,059 shares of the industrial products company’s stock worth $11,982,000 after acquiring an additional 2,552 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Powell Industries in the fourth quarter worth about $1,489,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

POWL has been the topic of several analyst reports. Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective on the stock. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 15th.

Powell Industries Stock Performance

NASDAQ:POWL opened at $177.25 on Friday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The stock has a 50-day simple moving average of $236.27 and a 200 day simple moving average of $233.90.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm 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. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 annualized dividend and a yield of 0.60%. Powell Industries’s payout ratio is presently 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.