Loomis Sayles & Co. L P Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Loomis Sayles & Co. L P purchased a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,548 shares of the industrial products company's stock, valued at approximately $7,225,000. Loomis Sayles & Co. L P owned approximately 0.27% of Powell Industries as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its stake in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock worth $51,000 after purchasing an additional 41 shares during the period. Chartwell Investment Partners LLC increased its holdings in shares of Powell Industries by 0.8% in the third 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after buying an additional 79 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Powell Industries by 110.5% during 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 during the last quarter. Finally, Diversified Trust Co grew its holdings in Powell Industries by 7.1% during 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 in the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd.

Powell Industries Trading Down 3.4 %

Shares of NASDAQ:POWL traded down $9.28 during trading on Thursday, reaching $262.35. The company's stock had a trading volume of 560,205 shares, compared to its average volume of 384,284. The stock has a market capitalization of $3.15 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98. The firm's 50 day simple moving average is $266.36 and its two-hundred day simple moving average is $198.08.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is 8.62%.

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.