344,578 Shares in Powell Industries, Inc. (NASDAQ:POWL) Bought by Demars Financial Group LLC

Demars Financial Group LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 344,578 shares of the industrial products company’s stock, valued at approximately $58,692,000.

Several other large investors also recently bought and sold shares of POWL. Vontobel Holding Ltd. increased its position in Powell Industries by 28.1% in the fourth quarter. Vontobel Holding Ltd. now owns 1,200 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 263 shares during the last quarter. Blue Trust Inc. purchased a new position in Powell Industries during the fourth quarter worth $40,000. Principal Securities Inc. purchased a new position in Powell Industries during the fourth quarter worth $26,000. State of New Jersey Common Pension Fund D purchased a new position in Powell Industries during the fourth quarter worth $1,489,000. Finally, Principal Financial Group Inc. boosted its stake in Powell Industries by 5.0% during the fourth quarter. Principal Financial Group Inc. now owns 54,059 shares of the industrial products company’s stock worth $11,982,000 after buying an additional 2,552 shares during the period. Institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th.

Powell Industries Trading Up 3.9%

Shares of POWL opened at $195.14 on Tuesday. The firm has a market capitalization of $2.35 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.98 and a beta of 0.72. Powell Industries, Inc. has a 12-month low of $127.01 and a 12-month high of $364.98. The firm has a fifty day moving average price of $180.08 and a 200-day moving average price of $204.03.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.47. The firm had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 earnings per share. Analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, May 21st. Powell Industries’s dividend payout ratio is currently 7.52%.

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.