IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires Shares of 1,139 Powell Industries, Inc. (NASDAQ:POWL)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,139 shares of the industrial products company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in Powell Industries in the 3rd quarter worth approximately $30,038,000. Raymond James Financial Inc. purchased a new position in shares of Powell Industries in the fourth quarter valued at $22,556,000. WCM Investment Management LLC purchased a new position in shares of Powell Industries in the fourth quarter valued at $14,261,000. Sanctuary Advisors LLC acquired a new stake in Powell Industries during the 3rd quarter valued at $12,176,000. Finally, Cibc World Market Inc. increased its stake in Powell Industries by 438.8% during the 4th quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock worth $13,464,000 after buying an additional 49,471 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $176.72 on Friday. The firm has a market cap 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 1 year low of $122.00 and a 1 year high of $364.98. The firm’s 50-day simple moving average is $203.86 and its 200-day simple moving average is $235.01.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 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%. On average, equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 19th. Powell Industries’s dividend payout ratio is 8.12%.

Analyst Ratings Changes

A number of analysts have recently issued reports on POWL shares. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Company 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.