Empowered Funds LLC Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Empowered Funds LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,557 shares of the industrial products company's stock, valued at approximately $9,891,000. Empowered Funds LLC owned about 0.37% of Powell Industries at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in POWL. KBC Group NV grew its position in shares of Powell Industries by 64.3% during the third quarter. KBC Group NV now owns 322 shares of the industrial products company's stock worth $71,000 after acquiring an additional 126 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after purchasing an additional 90,504 shares during the period. Cumberland Partners Ltd acquired a new position in Powell Industries during the 3rd quarter valued at about $555,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Powell Industries in the 3rd quarter worth about $575,000. Finally, Versor Investments LP increased its stake in shares of Powell Industries by 48.4% in the third quarter. Versor Investments LP now owns 3,355 shares of the industrial products company's stock valued at $745,000 after purchasing an additional 1,094 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Down 7.3 %

POWL stock traded down $21.98 during trading on Friday, reaching $278.53. 658,122 shares of the company's stock were exchanged, compared to its average volume of 372,566. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The firm has a market cap of $3.34 billion, a PE ratio of 26.06, a P/E/G ratio of 1.82 and a beta of 0.86. The company's fifty day moving average price is $247.95 and its 200-day moving average price is $191.41.

Powell Industries Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's payout ratio is currently 9.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research report on Friday.

Insider Activity at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now directly owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This represents a 40.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction that occurred 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. This represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock worth $15,906,386 in the last 90 days. 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.