Raymond James & Associates Boosts Stake in Powell Industries, Inc. (NASDAQ:POWL)

Raymond James & Associates boosted its position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,276 shares of the industrial products company's stock after purchasing an additional 3,385 shares during the period. Raymond James & Associates owned 0.18% of Powell Industries worth $4,723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Powell Industries during the second quarter worth $1,403,000. Quadrature Capital Ltd bought a new stake in Powell Industries during the first quarter valued at $1,927,000. Commonwealth Equity Services LLC bought a new stake in Powell Industries during the first quarter valued at $1,628,000. FORA Capital LLC bought a new stake in Powell Industries during the first quarter valued at $1,000,000. Finally, Virtu Financial LLC boosted its stake in Powell Industries by 198.8% during the first quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company's stock valued at $1,031,000 after buying an additional 4,819 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Trading Up 9.5 %

Shares of POWL stock traded up $24.35 during midday trading on Friday, reaching $279.33. 587,426 shares of the stock were exchanged, compared to its average volume of 364,639. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $284.45. The company's 50 day moving average is $217.07 and its two-hundred day moving average is $178.90. The firm has a market cap of $3.35 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86.

Insider Buying and Selling

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company's stock, valued at $145,704,513.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Powell Industries news, insider Robert B. Callahan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares in the company, valued at $1,770,560. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company's stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,350 shares of company stock worth $14,774,341 in the last 90 days. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd.

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.