Loomis Sayles & Co. L P Raises Position in Powell Industries, Inc. (NASDAQ:POWL)

Loomis Sayles & Co. L P grew its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,261 shares of the industrial products company’s stock after buying an additional 1,713 shares during the quarter. Loomis Sayles & Co. L P owned 0.28% of Powell Industries worth $7,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Powell Industries during the 4th quarter valued at $26,000. Quest Partners LLC purchased a new stake in shares of Powell Industries during the third quarter valued at $35,000. Smartleaf Asset Management LLC boosted its position in shares of Powell Industries by 455.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. Blue Trust Inc. bought a new stake in Powell Industries in the 4th quarter worth about $40,000. Finally, Prestige Wealth Management Group LLC raised its position in Powell Industries by 100.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on POWL. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm started 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 for the company. Finally, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

Powell Industries Stock Down 2.3 %

Powell Industries stock opened at $176.72 on Friday. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98. The company has a market cap of $2.13 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.98 and a beta of 0.83. The business has a 50-day simple moving average of $203.86 and a two-hundred day simple moving average of $235.56.

Powell Industries (NASDAQ:POWL) last announced 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%. Research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were issued a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) 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.