Northern Trust Corp Raises Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Northern Trust Corp lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 15.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 116,823 shares of the industrial products company’s stock after purchasing an additional 15,864 shares during the period. Northern Trust Corp’s holdings in Powell Industries were worth $25,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sei Investments Co. raised its holdings in shares of Powell Industries by 3.1% in the fourth quarter. Sei Investments Co. now owns 2,849 shares of the industrial products company’s stock worth $631,000 after buying an additional 85 shares during the period. Freedom Investment Management Inc. raised its holdings in shares of Powell Industries by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company’s stock worth $537,000 after buying an additional 87 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Powell Industries by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company’s stock worth $217,000 after buying an additional 90 shares during the period. GeoWealth Management LLC increased its holdings in Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 99 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in Powell Industries by 100.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 100 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Down 1.8%

POWL opened at $174.77 on Monday. The stock’s fifty day moving average is $175.80 and its two-hundred day moving average is $223.69. The company has a market capitalization of $2.11 billion, a P/E ratio of 13.27, a PEG ratio of 0.98 and a beta of 0.78. Powell Industries, Inc. has a 52 week low of $127.01 and a 52 week high of $364.98.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, topping the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million for the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. Powell Industries’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $2.75 EPS. Equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.61%. Powell Industries’s payout ratio is currently 7.52%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th.

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.