NEOS Investment Management LLC Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

NEOS Investment Management LLC acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,160 shares of the industrial products company’s stock, valued at approximately $479,000.

Several other institutional investors also recently bought and sold shares of POWL. Hanseatic Management Services Inc. bought a new stake in Powell Industries during the 4th quarter valued at $248,000. Merit Financial Group LLC grew its stake in Powell Industries by 103.9% in the fourth quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company’s stock valued at $1,091,000 after purchasing an additional 2,508 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Powell Industries in the third quarter worth about $10,760,000. Bay Rivers Group lifted its position in shares of Powell Industries by 105.4% during the fourth quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after buying an additional 1,177 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Powell Industries by 101.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock valued at $5,962,000 after buying an additional 13,531 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on POWL shares. 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 target price for the company. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th.

Powell Industries Trading Down 2.3 %

NASDAQ:POWL opened at $176.72 on Monday. The company’s 50 day moving average is $203.86 and its two-hundred day moving average is $236.07. The company has a market cap of $2.13 billion, a PE ratio of 13.42, a P/E/G ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a twelve month low of $122.00 and a twelve month high of $364.98.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. As a group, analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is 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.