6,719 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 6,719 shares of the industrial products company’s stock, valued at approximately $1,489,000. State of New Jersey Common Pension Fund D owned 0.06% of Powell Industries as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Powell Industries during the fourth quarter worth about $26,000. Hollencrest Capital Management bought a new position in shares of Powell Industries during the 3rd quarter valued at $30,000. Quest Partners LLC bought a new stake in Powell Industries in the third quarter valued at approximately $35,000. Blue Trust Inc. bought a new position in shares of Powell Industries during the fourth quarter valued at about $40,000. Finally, Farther Finance Advisors LLC lifted its stake 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 worth $44,000 after acquiring an additional 105 shares during the period. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 0.5 %

Shares of NASDAQ POWL opened at $170.46 on Wednesday. The business’s 50 day moving average price is $233.19 and its 200 day moving average price is $235.02. The firm has a market cap of $2.06 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.98 and a beta of 0.87. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its 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 net margin of 15.15% and a return on equity of 35.48%. As a group, research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current 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 issued a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, February 19th. Powell Industries’s dividend payout ratio is presently 8.12%.

Wall Street Analyst Weigh In

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

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.