Invesco Ltd. Has $58.77 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Invesco Ltd. increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 134.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,139 shares of the industrial products company’s stock after acquiring an additional 151,850 shares during the period. Invesco Ltd.’s holdings in Powell Industries were worth $58,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Securities Inc. acquired a new stake in Powell Industries during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its stake in Powell Industries by 455.2% in the 4th 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 in the last quarter. Blue Trust Inc. bought a new stake in Powell Industries in the fourth quarter valued at $40,000. Tucker Asset Management LLC acquired a new position in Powell Industries during the fourth quarter worth $43,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Powell Industries by 100.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. Institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $171.97 on Tuesday. The company has a 50 day moving average of $181.60 and a 200-day moving average of $233.73. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.98 and a beta of 0.67.

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 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%. Equities research analysts anticipate 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 was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s payout ratio is presently 8.12%.

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.