Victory Capital Management Inc. Buys 90,504 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Victory Capital Management Inc. increased its stake in Powell Industries, Inc. (NASDAQ:POWL) by 1,119.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,590 shares of the industrial products company’s stock after acquiring an additional 90,504 shares during the quarter. Victory Capital Management Inc.’s holdings in Powell Industries were worth $21,886,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cumberland Partners Ltd bought a new stake in shares of Powell Industries in the 3rd quarter valued at $555,000. SG Americas Securities LLC bought a new stake in Powell Industries during the 2nd quarter valued at $1,403,000. Quadrature Capital Ltd bought a new stake in Powell Industries during the 1st quarter valued at $1,927,000. Raymond James & Associates increased its stake in 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 in the last quarter. Finally, Stephens Investment Management Group LLC bought a new stake in Powell Industries during the 3rd quarter valued at $13,606,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 3.8 %

Shares of POWL stock opened at $289.01 on Tuesday. The firm has a market capitalization of $3.47 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86. The firm has a fifty day simple moving average of $250.62 and a two-hundred day simple moving average of $192.46. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is 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 note on Friday.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The shares were 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. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction 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 $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock valued at $15,906,386 in the last three months. 2.20% of the stock is currently owned by insiders.

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.