Proficio Capital Partners LLC Invests $3.10 Million in Powell Industries, Inc. (NASDAQ:POWL)

Proficio Capital Partners LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,964 shares of the industrial products company’s stock, valued at approximately $3,095,000. Proficio Capital Partners LLC owned about 0.12% of Powell Industries as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Powell Industries in the 4th quarter worth $26,000. Quest Partners LLC purchased a new position in Powell Industries during the third quarter worth about $35,000. Smartleaf Asset Management LLC lifted its position in Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 132 shares during the period. Blue Trust Inc. purchased a new stake in Powell Industries in the 4th quarter valued at approximately $40,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Powell Industries in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

POWL has been the subject of several research analyst reports. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Price Performance

NASDAQ POWL opened at $181.50 on Wednesday. The business has a 50 day moving average price of $212.71 and a 200 day moving average price of $234.41. The company has a market capitalization of $2.19 billion, a P/E ratio of 13.78, a PEG ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a 1-year low of $122.00 and a 1-year high of $364.98.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share 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%. On average, research analysts expect 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. Shareholders 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 represents a $1.07 dividend on an annualized basis and a yield of 0.59%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. 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.