Covestor Ltd Grows Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Covestor Ltd raised its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229 shares of the industrial products company’s stock after purchasing an additional 41 shares during the quarter. Covestor Ltd’s holdings in Powell Industries were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in POWL. SG Americas Securities LLC purchased a new position in Powell Industries in the second quarter worth about $1,403,000. Quadrature Capital Ltd purchased a new position in shares of Powell Industries in the 1st quarter worth approximately $1,927,000. Raymond James & Associates increased its position in shares of Powell Industries by 18.9% during the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after purchasing an additional 3,385 shares during the last quarter. Stephens Investment Management Group LLC purchased a new stake in Powell Industries during the 3rd quarter valued at $13,606,000. Finally, Virtu Financial LLC lifted its position in Powell Industries by 198.8% in the first quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company’s stock worth $1,031,000 after buying an additional 4,819 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the transaction, the director now directly owns 9,660 shares in the company, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,600 shares of company stock worth $15,906,386 in the last quarter. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $300.51 on Friday. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The firm has a 50-day simple moving average of $245.38 and a two-hundred day simple moving average of $190.18. The company has a market cap of $3.60 billion, a P/E ratio of 28.11, a PEG ratio of 1.97 and a beta of 0.86.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 9.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Friday.

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.