Charles Schwab Investment Management Inc. Grows Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Charles Schwab Investment Management Inc. raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 12.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 93,845 shares of the industrial products company’s stock after buying an additional 10,352 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Powell Industries were worth $20,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in Powell Industries during the first quarter worth $375,000. GAMMA Investing LLC lifted its stake in shares of Powell Industries by 38.2% during the second 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 period. SG Americas Securities LLC acquired a new stake in Powell Industries during the second quarter worth approximately $1,403,000. Transform Wealth LLC grew its stake in 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 worth $240,075,000 after acquiring an additional 1,667,728 shares during the period. Finally, Diversified Trust Co raised its holdings in Powell Industries by 8.7% in the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 129 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Shares of POWL stock opened at $280.37 on Friday. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 1.37 and a beta of 0.85. Powell Industries, Inc. has a one year low of $76.29 and a one year high of $364.98. The company has a 50 day moving average price of $275.37 and a 200 day moving average price of $203.35.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. Powell Industries’s payout ratio is 8.62%.

Insider Buying and Selling

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