10,764 Shares in Powell Industries, Inc. (NASDAQ:POWL) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,764 shares of the industrial products company's stock, valued at approximately $2,390,000. Polar Asset Management Partners Inc. owned about 0.09% of Powell Industries at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in Powell Industries during the 1st quarter worth approximately $375,000. GAMMA Investing LLC raised its position in Powell Industries by 38.2% during the 2nd 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 last quarter. Harbor Capital Advisors Inc. lifted its holdings in Powell Industries by 80.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,308 shares of the industrial products company's stock worth $618,000 after buying an additional 1,919 shares during the period. SG Americas Securities LLC acquired a new position in Powell Industries during the 2nd quarter worth about $1,403,000. Finally, Transform Wealth LLC grew its position in shares of Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company's stock valued at $240,075,000 after buying an additional 1,667,728 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the transaction, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 60,000 shares of company stock worth $14,679,842. Company insiders own 2.20% of the company's stock.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $4.87 during midday trading on Friday, reaching $280.37. The stock had a trading volume of 286,411 shares, compared to its average volume of 384,003. The company's 50 day moving average price is $274.14 and its 200 day moving average price is $202.55. Powell Industries, Inc. has a twelve month low of $76.29 and a twelve month high of $364.98. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.37 and a beta of 0.85.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.38%. Powell Industries's dividend payout ratio (DPR) is currently 8.62%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd.

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.