Horizon Investment Services LLC Reduces Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Horizon Investment Services LLC lowered its position in Powell Industries, Inc. (NASDAQ:POWL) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,310 shares of the industrial products company’s stock after selling 193 shares during the period. Horizon Investment Services LLC owned 0.06% of Powell Industries worth $1,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Powell Industries in the 4th quarter worth approximately $26,000. Quest Partners LLC purchased a new stake in Powell Industries in the 3rd quarter valued at $35,000. Smartleaf Asset Management LLC increased its stake in shares of Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 132 shares during the last quarter. Blue Trust Inc. purchased a new position in shares of Powell Industries during the 4th quarter worth $40,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of 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 valued at $44,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock.

Powell Industries Stock Performance

Powell Industries stock opened at $176.72 on Friday. The company has a market capitalization of $2.13 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The firm has a 50 day moving average price of $203.86 and a 200 day moving average price of $235.01.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

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