Powell Industries, Inc. (NASDAQ:POWL) Shares Purchased by State of Tennessee Treasury Department

State of Tennessee Treasury Department increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,108 shares of the industrial products company’s stock after acquiring an additional 323 shares during the quarter. State of Tennessee Treasury Department’s holdings in Powell Industries were worth $161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in Powell Industries by 2.7% in the 2nd quarter. BlackRock Inc. now owns 1,317,808 shares of the industrial products company’s stock worth $50,078,000 after purchasing an additional 34,655 shares during the last quarter. Vanguard Group Inc. grew its position in Powell Industries by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 609,668 shares of the industrial products company’s stock worth $23,168,000 after purchasing an additional 3,303 shares during the last quarter. Renaissance Technologies LLC grew its position in Powell Industries by 13.1% in the 2nd quarter. Renaissance Technologies LLC now owns 464,334 shares of the industrial products company’s stock worth $17,645,000 after purchasing an additional 53,734 shares during the last quarter. Bank of New York Mellon Corp grew its position in Powell Industries by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 162,717 shares of the industrial products company’s stock worth $6,183,000 after purchasing an additional 17,155 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Powell Industries by 6.8% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 75,520 shares of the industrial products company’s stock worth $2,870,000 after purchasing an additional 4,782 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Powell Industries stock opened at $39.26 on Tuesday. The firm has a 50 day simple moving average of $38.76 and a 200-day simple moving average of $37.10. The stock has a market capitalization of $460.47 million, a PE ratio of 84.70 and a beta of 1.18. Powell Industries, Inc. has a 12-month low of $22.55 and a 12-month high of $40.96.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, November 19th.

Several research firms have commented on POWL. BidaskClub upgraded shares of Powell Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. TheStreet upgraded shares of Powell Industries from a “c+” rating to a “b-” rating in a research report on Monday, November 4th. Finally, ValuEngine cut shares of Powell Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Powell Industries currently has a consensus rating of “Hold” and an average price target of $38.00.

Powell Industries Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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