B. Riley Wealth Advisors Inc. Purchases New Position in Powell Industries, Inc. (NASDAQ:POWL)

B. Riley Wealth Advisors Inc. acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,112 shares of the industrial products company's stock, valued at approximately $1,361,000. B. Riley Wealth Advisors Inc. owned 0.05% of Powell Industries as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of POWL. Franklin Resources Inc. increased its position in shares of Powell Industries by 2.5% during the third quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company's stock worth $4,462,000 after acquiring an additional 497 shares in the last quarter. World Investment Advisors LLC bought a new stake in Powell Industries during the 3rd quarter worth approximately $2,366,000. Sanctuary Advisors LLC purchased a new stake in shares of Powell Industries in the third quarter worth approximately $12,176,000. Invst LLC raised its stake in shares of Powell Industries by 18.5% in the third quarter. Invst LLC now owns 4,977 shares of the industrial products company's stock worth $1,105,000 after purchasing an additional 776 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company's stock valued at $57,071,000 after purchasing an additional 9,692 shares in the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business'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 sale, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is owned by company insiders.

Analyst Ratings Changes

POWL has been the subject of a number of analyst reports. StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective for the company.

Powell Industries Stock Down 4.5 %

POWL stock traded down $11.32 during midday trading on Tuesday, hitting $241.25. The company's stock had a trading volume of 332,182 shares, compared to its average volume of 385,422. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.31 and a beta of 0.85. The stock's 50-day moving average price is $277.84 and its 200 day moving average price is $206.30. Powell Industries, Inc. has a 1 year low of $76.29 and a 1 year high of $364.98.

Powell Industries Announces Dividend

The business also recently declared 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is currently 8.62%.

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.