Stratos Wealth Partners LTD. Increases Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Stratos Wealth Partners LTD. boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,429 shares of the industrial products company's stock after purchasing an additional 4,924 shares during the period. Stratos Wealth Partners LTD. owned approximately 0.26% of Powell Industries worth $6,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of POWL. SG Americas Securities LLC purchased a new position in shares of Powell Industries during the 2nd quarter worth $1,403,000. Quadrature Capital Ltd purchased a new position in Powell Industries during the first quarter worth about $1,927,000. Commonwealth Equity Services LLC acquired a new stake in shares of Powell Industries during the first quarter valued at about $1,628,000. FORA Capital LLC purchased a new stake in shares of Powell Industries in the 1st quarter valued at approximately $1,000,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Powell Industries by 471.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company's stock worth $4,448,000 after acquiring an additional 25,789 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Thomas W. Powell sold 17,549 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 1,630,779 shares of the company's stock, valued at approximately $418,017,581.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 2,451 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,350 shares of company stock worth $14,774,341 in the last ninety days. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Performance

Shares of POWL traded down $4.25 during midday trading on Friday, hitting $271.33. 222,670 shares of the stock were exchanged, compared to its average volume of 368,027. Powell Industries, Inc. has a 52-week low of $72.51 and a 52-week high of $284.45. The stock has a fifty day simple moving average of $198.90 and a 200 day simple moving average of $169.78. The firm has a market cap of $3.25 billion, a P/E ratio of 32.22, a P/E/G ratio of 1.53 and a beta of 0.88.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $1.63. The company had revenue of $288.17 million during the quarter, compared to analysts' expectations of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. Powell Industries's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. As a group, equities research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries's payout ratio is currently 12.59%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Friday, October 4th.

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.