Sanctuary Advisors LLC Makes New $12.18 Million Investment in Powell Industries, Inc. (NASDAQ:POWL)

Sanctuary Advisors LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 54,851 shares of the industrial products company's stock, valued at approximately $12,176,000. Sanctuary Advisors LLC owned approximately 0.46% of Powell Industries at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of Powell Industries during the third quarter valued at $30,038,000. Victory Capital Management Inc. raised its position in Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after buying an additional 90,504 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Powell Industries during the 2nd quarter valued at about $11,658,000. Stephens Investment Management Group LLC purchased a new stake in shares of Powell Industries during the 3rd quarter valued at about $13,606,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Powell Industries in the third quarter worth approximately $10,760,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on 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 transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $14,679,842. Insiders own 2.20% of the company's stock.

Powell Industries Stock Down 1.5 %

Shares of Powell Industries stock traded down $3.76 during trading hours on Friday, reaching $252.00. 388,884 shares of the stock traded hands, compared to its average volume of 386,178. Powell Industries, Inc. has a one year low of $76.29 and a one year high of $364.98. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.37 and a beta of 0.85. The company has a 50 day moving average price of $277.93 and a 200 day moving average price of $205.54.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on POWL. StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday. Roth Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday. Finally, Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday. They issued a "buy" rating and a $312.00 price target on the stock.

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.