Range Financial Group LLC Purchases New Shares in Powell Industries, Inc. (NASDAQ:POWL)

Range Financial Group LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,120 shares of the industrial products company's stock, valued at approximately $2,908,000. Powell Industries accounts for about 1.3% of Range Financial Group LLC's portfolio, making the stock its 12th largest position. Range Financial Group LLC owned approximately 0.11% of Powell Industries as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cumberland Partners Ltd bought a new stake in Powell Industries during the third quarter valued at approximately $555,000. Loomis Sayles & Co. L P purchased a new stake in shares of Powell Industries during the 3rd quarter valued at $7,225,000. Victory Capital Management Inc. lifted its holdings in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after acquiring an additional 90,504 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Powell Industries by 34.8% in the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock worth $2,430,000 after acquiring an additional 2,827 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock worth $11,434,000 after acquiring an additional 2,793 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 17,549 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the completion of the sale, the insider now owns 1,630,779 shares of the company's stock, valued at $418,017,581.07. This represents a 1.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 25,000 shares of company stock worth $6,879,442 in the last ninety days. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Roth Capital raised Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Roth Mkm initiated coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price for the company. Finally, StockNews.com cut shares of Powell Industries from a "buy" rating to a "hold" rating in a research report on Monday.

Powell Industries Price Performance

Powell Industries stock traded down $13.51 during mid-day trading on Tuesday, hitting $237.12. The company's stock had a trading volume of 297,173 shares, compared to its average volume of 420,293. The business has a 50 day moving average price of $269.15 and a 200-day moving average price of $213.70. Powell Industries, Inc. has a 12 month low of $76.29 and a 12 month high of $364.98. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

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.