Invst LLC Has $1.11 Million Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Invst LLC lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 18.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,977 shares of the industrial products company’s stock after acquiring an additional 776 shares during the quarter. Invst LLC’s holdings in Powell Industries were worth $1,105,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd increased its stake in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares during the period. Chartwell Investment Partners LLC grew its holdings in shares of Powell Industries by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 105 shares in the last quarter. Diversified Trust Co increased its position in shares of Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 shares during the period. Finally, KBC Group NV raised its stake in Powell Industries by 64.3% in the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 126 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Powell Industries Stock Performance

Shares of POWL opened at $249.81 on Wednesday. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.42 and a beta of 0.85. The business’s fifty day moving average is $276.51 and its 200-day moving average is $204.37.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio is presently 8.62%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday. They set a “buy” rating and a $312.00 price objective on the stock. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.