Ausbil Investment Management Ltd decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,396 shares of the industrial products company's stock after selling 9,437 shares during the period. Powell Industries makes up approximately 1.5% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 25th biggest position. Ausbil Investment Management Ltd owned 0.09% of Powell Industries worth $2,556,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in POWL. Hollencrest Capital Management bought a new stake in Powell Industries in the third quarter worth about $30,000. Quest Partners LLC purchased a new position in Powell Industries during the third quarter valued at approximately $35,000. Blue Trust Inc. purchased a new position in Powell Industries during the fourth quarter valued at approximately $43,000. Farther Finance Advisors LLC grew its holdings in Powell Industries by 110.5% in the third 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 during the last quarter. Finally, Covestor Ltd grew its holdings in Powell Industries by 21.8% in the third 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 last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Powell Industries Trading Up 6.1 %
Shares of NASDAQ POWL traded up $14.32 during mid-day trading on Wednesday, reaching $247.46. The company had a trading volume of 196,677 shares, compared to its average volume of 476,792. The firm has a 50 day simple moving average of $250.48 and a two-hundred day simple moving average of $229.03. The stock has a market cap of $2.98 billion, a P/E ratio of 20.04, a PEG ratio of 1.25 and a beta of 0.87. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98.
Powell Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be paid a $0.2675 dividend. This is a boost from Powell Industries's previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.43%. Powell Industries's dividend payout ratio (DPR) is 8.62%.
Analyst Upgrades and Downgrades
POWL has been the subject of several research reports. Roth Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They set a "buy" rating and a $312.00 price objective for the company. Finally, StockNews.com lowered shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Wednesday, January 22nd.
Get Our Latest Stock Analysis on POWL
Insider Activity at Powell Industries
In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The shares were 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 owns 677,265 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company's stock.
About Powell Industries
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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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