CWA Asset Management Group LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,426 shares of the industrial products company's stock, valued at approximately $983,000.
Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Powell Industries during the third quarter valued at approximately $30,000. GAMMA Investing LLC increased its position in Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after purchasing an additional 79 shares during the period. Farther Finance Advisors LLC grew its holdings in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after acquiring an additional 105 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Powell Industries in the 2nd quarter worth $47,000. Finally, Quarry LP acquired a new stake in shares of Powell Industries during the second quarter worth $48,000. 89.77% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares of the company's stock, valued at approximately $426,784,768.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the sale, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 17,549 shares of Powell Industries stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the transaction, the insider now directly owns 1,630,779 shares of the company's stock, valued at $418,017,581.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,600 shares of company stock worth $14,167,686. Company insiders own 2.20% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Powell Industries from a "buy" rating to a "hold" rating in a report on Thursday.
Read Our Latest Stock Analysis on Powell Industries
Powell Industries Stock Performance
POWL stock traded up $9.32 during mid-day trading on Monday, hitting $355.69. 201,741 shares of the company were exchanged, compared to its average volume of 368,635. The firm has a market cap of $4.26 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.99 and a beta of 0.86. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The firm's 50 day simple moving average is $231.55 and its 200 day simple moving average is $185.68.
Powell Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is presently 9.92%.
About Powell Industries
(
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.
Further Reading
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