Cable Hill Partners LLC Invests $223,000 in Powell Industries, Inc. (NASDAQ:POWL)

Cable Hill Partners LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,006 shares of the industrial products company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 41 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in Powell Industries by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after acquiring an additional 60 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares during the last quarter. KBC Group NV boosted its holdings in Powell Industries by 35.1% in the fourth quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 113 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Powell Industries in the fourth quarter valued at approximately $26,000. 89.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

POWL has been the topic of several analyst reports. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock. Finally, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Sunday, February 23rd.

Powell Industries Stock Down 4.7 %

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

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating 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%. Equities research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share 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. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.65%. Powell Industries’s dividend payout ratio (DPR) is currently 8.12%.

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.