World Investment Advisors LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,656 shares of the industrial products company's stock, valued at approximately $2,366,000. World Investment Advisors LLC owned 0.09% of Powell Industries as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Covestor Ltd increased its holdings in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company's stock worth $1,712,000 after buying an additional 60 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after buying an additional 105 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company's stock valued at $385,000 after buying an additional 115 shares during the period. Finally, KBC Group NV lifted its stake in Powell Industries by 64.3% during the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company's stock worth $71,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on POWL. Roth Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a research report on Wednesday. They issued a "buy" rating and a $312.00 price target for the company.
View Our Latest Stock Analysis on Powell Industries
Insider Buying and Selling
In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares of the company's stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 60,000 shares of company stock worth $14,679,842 over the last 90 days. 2.20% of the stock is owned by insiders.
Powell Industries Stock Performance
POWL stock traded down $3.76 during mid-day trading on Friday, reaching $252.00. The company had a trading volume of 388,884 shares, compared to its average volume of 386,178. The firm has a fifty day simple moving average of $277.93 and a 200 day simple moving average of $205.54. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.85. Powell Industries, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $364.98.
Powell Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.42%. Powell Industries's dividend payout ratio (DPR) is 8.62%.
Powell Industries Profile
(
Free Report)
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.
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