Charles Schwab Investment Management Inc. Acquires 10,352 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Charles Schwab Investment Management Inc. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,845 shares of the industrial products company's stock after purchasing an additional 10,352 shares during the period. Charles Schwab Investment Management Inc. owned 0.78% of Powell Industries worth $20,833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in shares of Powell Industries during the 1st quarter worth approximately $375,000. GAMMA Investing LLC grew its stake in Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock valued at $41,000 after buying an additional 79 shares during the last quarter. SG Americas Securities LLC bought a new position in Powell Industries in the 2nd quarter valued at about $1,403,000. Transform Wealth LLC lifted its position in Powell Industries by 25,920.5% during the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company's stock worth $240,075,000 after acquiring an additional 1,667,728 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Powell Industries by 8.7% during the second quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company's stock worth $232,000 after acquiring an additional 129 shares during the period. 89.77% of the stock is owned by institutional investors.

Powell Industries Stock Down 1.7 %

Shares of POWL traded down $4.87 during mid-day trading on Friday, hitting $280.37. 286,411 shares of the company's stock were exchanged, compared to its average volume of 525,815. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. The stock's 50-day simple moving average is $275.37 and its 200-day simple moving average is $203.46. Powell Industries, Inc. has a 52 week low of $76.29 and a 52 week high of $364.98.

Powell Industries Announces Dividend

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

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm'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 sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Powell Industries Company 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.