Sierra Summit Advisors LLC Makes New $550,000 Investment in Powell Industries, Inc. (NASDAQ:POWL)

Sierra Summit Advisors LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,483 shares of the industrial products company’s stock, valued at approximately $550,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of POWL. Vanguard Group Inc. grew its position in Powell Industries by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company’s stock valued at $152,508,000 after acquiring an additional 24,997 shares during the last quarter. State Street Corp boosted its stake in shares of Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares during the period. American Century Companies Inc. grew its holdings in shares of Powell Industries by 8.3% in the fourth quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company’s stock worth $77,965,000 after purchasing an additional 27,029 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after purchasing an additional 9,692 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Powell Industries in the 3rd quarter worth about $30,038,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Powell Industries Stock Performance

NASDAQ:POWL opened at $164.45 on Monday. The firm has a 50-day simple moving average of $192.23 and a 200-day simple moving average of $236.08. Powell Industries, Inc. has a one year low of $122.00 and a one year high of $364.98. The firm has a market cap of $1.98 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. On average, research analysts predict 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. Investors of record on Wednesday, February 19th were paid a dividend of $0.2675 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, February 19th. Powell Industries’s dividend 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.