Barclays PLC Acquires 40,515 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Barclays PLC increased its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 198.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,969 shares of the industrial products company's stock after purchasing an additional 40,515 shares during the period. Barclays PLC owned 0.51% of Powell Industries worth $13,536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in POWL. Montchanin Asset Management LLC bought a new stake in shares of Powell Industries during the third quarter valued at approximately $240,000. XTX Topco Ltd purchased a new position in Powell Industries during the third quarter valued at $802,000. Zacks Investment Management increased its holdings in Powell Industries by 6.4% in the 3rd quarter. Zacks Investment Management now owns 8,026 shares of the industrial products company's stock valued at $1,782,000 after acquiring an additional 484 shares during the last quarter. Wellington Management Group LLP bought a new stake in Powell Industries in the 3rd quarter valued at $30,038,000. Finally, State Street Corp lifted its stake in Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company's stock worth $80,520,000 after purchasing an additional 3,403 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on POWL. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th. StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th. Finally, Roth Mkm began coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective on the stock.

Powell Industries Stock Performance

POWL stock traded up $0.57 during trading on Monday, hitting $252.57. 256,032 shares of the company's stock traded hands, compared to its average volume of 385,642. Powell Industries, Inc. has a 52 week low of $76.29 and a 52 week high of $364.98. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.31 and a beta of 0.85. The business has a fifty day simple moving average of $278.06 and a 200 day simple moving average of $205.87.

Powell Industries Dividend Announcement

The firm 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 0.42%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's payout ratio is 8.62%.

Insider Buying and Selling

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 shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 60,000 shares of company stock worth $14,679,842. Corporate insiders own 2.20% of the company's stock.

Powell Industries 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.