3,611 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by XTX Topco Ltd

XTX Topco Ltd bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,611 shares of the industrial products company's stock, valued at approximately $802,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Cumberland Partners Ltd purchased a new stake in shares of Powell Industries in the 3rd quarter worth $555,000. SG Americas Securities LLC purchased a new position in Powell Industries in the second quarter worth about $1,403,000. Loomis Sayles & Co. L P purchased a new stake in Powell Industries during the 3rd quarter valued at $7,225,000. Victory Capital Management Inc. raised its stake in shares of Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its stake in Powell Industries by 34.8% in the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock worth $2,430,000 after purchasing an additional 2,827 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares of the company's stock, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is owned by company insiders.

Powell Industries Stock Down 5.3 %

POWL traded down $14.21 during trading on Thursday, hitting $255.76. 357,399 shares of the stock were exchanged, compared to its average volume of 386,164. The stock has a fifty day moving average price of $277.28 and a two-hundred day moving average price of $204.83. The firm has a market capitalization of $3.07 billion, a P/E ratio of 21.97, a PEG ratio of 1.42 and a beta of 0.85. Powell Industries, Inc. has a 1-year low of $76.29 and a 1-year high of $364.98.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Wednesday, November 20th. Powell Industries's dividend payout ratio is presently 8.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on POWL shares. Roth Mkm assumed coverage on shares of Powell Industries in a report on Wednesday. They set a "buy" rating and a $312.00 price objective on the stock. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Tuesday. Finally, StockNews.com raised shares of Powell Industries from a "hold" rating to a "buy" rating in a report on Tuesday.

Powell Industries Company 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.