Portolan Capital Management LLC Makes New $2.79 Million Investment in Powell Industries, Inc. (NASDAQ:POWL)

Portolan Capital Management LLC purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,593 shares of the industrial products company’s stock, valued at approximately $2,791,000. Portolan Capital Management LLC owned 0.10% of Powell Industries as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Securities Inc. bought a new position in Powell Industries in the 4th quarter worth $26,000. Smartleaf Asset Management LLC increased its stake in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 132 shares during the period. Blue Trust Inc. acquired a new position in shares of Powell Industries during the 4th quarter worth about $40,000. Tucker Asset Management LLC acquired a new position in shares of Powell Industries during the 4th quarter worth about $43,000. Finally, Prestige Wealth Management Group LLC boosted its stake 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 valued at $44,000 after purchasing an additional 100 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Performance

NASDAQ:POWL opened at $171.97 on Tuesday. The firm’s 50-day moving average is $181.60 and its 200-day moving average is $233.73. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.98 and a beta of 0.67. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results 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%. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th were given a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) is 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.