Principal Financial Group Inc. Raises Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 5.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,059 shares of the industrial products company’s stock after buying an additional 2,552 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Powell Industries worth $11,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd raised its stake 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 valued at $51,000 after acquiring an additional 41 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in Powell Industries by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after purchasing an additional 60 shares during the period. Farther Finance Advisors LLC raised its position in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares during the last quarter. KBC Group NV lifted its holdings in Powell Industries by 35.1% in the 4th quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock worth $96,000 after buying an additional 113 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Powell Industries in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Down 4.7 %

Shares of POWL stock opened at $165.48 on Friday. The business’s fifty day moving average is $230.47 and its 200 day moving average is $234.11. The stock has a market cap 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, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping 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%. Equities 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 paid a dividend of $0.2675 per share. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.65%. Powell Industries’s dividend payout ratio (DPR) is currently 8.12%.

Analyst Ratings Changes

Several research analysts have commented on POWL shares. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Sunday, February 23rd. Roth Mkm initiated coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

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.