Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. lifted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 438.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,746 shares of the industrial products company's stock after buying an additional 49,471 shares during the quarter. Cibc World Market Inc. owned about 0.50% of Powell Industries worth $13,464,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in Powell Industries in the third quarter valued at about $30,000. Quest Partners LLC acquired a new position in shares of Powell Industries during the third quarter worth approximately $35,000. Blue Trust Inc. bought a new stake in Powell Industries during the fourth quarter worth $43,000. Farther Finance Advisors LLC grew its stake in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 105 shares during the period. Finally, Covestor Ltd grew its stake in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of recent research reports. Roth Capital raised Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They set a "buy" rating and a $312.00 price objective on the stock. Finally, StockNews.com lowered Powell Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, January 22nd.

Powell Industries Price Performance

Shares of POWL traded up $11.71 during trading hours on Wednesday, hitting $244.85. The stock had a trading volume of 532,086 shares, compared to its average volume of 491,750. Powell Industries, Inc. has a 12 month low of $122.00 and a 12 month high of $364.98. The firm has a market capitalization of $2.95 billion, a PE ratio of 19.92, a PEG ratio of 1.25 and a beta of 0.87. The stock has a fifty day moving average price of $250.13 and a 200 day moving average price of $229.14.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.44%. Powell Industries's dividend payout ratio is 8.62%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 677,265 shares of the company's stock, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company's 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.