Central Asset Investments & Management Holdings HK Ltd Takes $332,000 Position in Powell Industries, Inc. (NASDAQ:POWL)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the industrial products company’s stock, valued at approximately $332,000.

Other hedge funds also recently bought and sold shares of the company. Creative Planning grew its stake in shares of Powell Industries by 20.8% in the 3rd quarter. Creative Planning now owns 2,612 shares of the industrial products company’s stock worth $580,000 after buying an additional 449 shares in the last quarter. Raymond James & Associates grew its position in Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock worth $4,723,000 after acquiring an additional 3,385 shares in the last quarter. Private Advisor Group LLC increased its stake in Powell Industries by 11.5% during the third quarter. Private Advisor Group LLC now owns 2,090 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 215 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Powell Industries during the third quarter worth approximately $260,000. Finally, GW Henssler & Associates Ltd. purchased a new stake in Powell Industries during the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on POWL. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm assumed coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company. Finally, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Sunday.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $173.59 on Thursday. Powell Industries, Inc. has a 1 year low of $122.00 and a 1 year high of $364.98. The firm has a 50-day simple moving average of $232.03 and a two-hundred day simple moving average of $234.59. The company has a market cap of $2.09 billion, a P/E ratio of 13.18, a PEG ratio of 0.98 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business 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 dividend of $0.2675 per share. 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 0.62%. The ex-dividend date is Wednesday, February 19th. Powell Industries’s payout ratio is currently 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.