16,621 Shares in Powell Industries, Inc. (NASDAQ:POWL) Bought by Independent Advisor Alliance

Independent Advisor Alliance bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,621 shares of the industrial products company's stock, valued at approximately $3,690,000. Independent Advisor Alliance owned about 0.14% of Powell Industries at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Powell Industries during the 3rd quarter valued at about $30,000. Quest Partners LLC acquired a new position in Powell Industries during the third quarter valued at approximately $35,000. GAMMA Investing LLC raised its position in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 79 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after buying an additional 105 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries in the second quarter worth $47,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Price Performance

Shares of NASDAQ POWL traded down $8.97 during trading hours on Tuesday, hitting $271.63. 464,891 shares of the company's stock were exchanged, compared to its average volume of 383,513. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.47 and a beta of 0.86. The company's 50-day moving average price is $262.79 and its 200-day moving average price is $196.90. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98.

Powell Industries Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.39%. Powell Industries's dividend payout ratio is 8.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares of the company's stock, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 60,000 shares of company stock worth $14,679,842. 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.