Central Asset Investments & Management Holdings HK Ltd Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Central Asset Investments & Management Holdings HK Ltd bought a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,500 shares of the industrial products company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its holdings in shares of Powell Industries by 20.8% in the third quarter. Creative Planning now owns 2,612 shares of the industrial products company’s stock valued at $580,000 after acquiring an additional 449 shares in the last quarter. Raymond James & Associates increased its position in Powell Industries by 18.9% during the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after purchasing an additional 3,385 shares during the period. Private Advisor Group LLC increased its position in Powell Industries by 11.5% during the 3rd quarter. Private Advisor Group LLC now owns 2,090 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 215 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Powell Industries in the 3rd quarter valued at about $260,000. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of Powell Industries in the 3rd quarter worth approximately $238,000. Institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

NASDAQ:POWL opened at $173.59 on Thursday. The company’s 50-day simple moving average is $232.03 and its 200-day simple moving average is $234.59. Powell Industries, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The stock has a market capitalization of $2.09 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.98 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating the consensus estimate 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 forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be given a $0.2675 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.62%. 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.