Covestor Ltd Acquires 41 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Covestor Ltd increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 21.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 229 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. Covestor Ltd’s holdings in Powell Industries were worth $51,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. boosted its position in Powell Industries by 8.3% during the 3rd quarter. Assetmark Inc. now owns 12,158 shares of the industrial products company’s stock valued at $2,699,000 after acquiring an additional 933 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Powell Industries in the third quarter valued at about $983,000. Hollencrest Capital Management purchased a new position in Powell Industries in the third quarter valued at about $30,000. Principal Financial Group Inc. raised its holdings 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 purchasing an additional 2,793 shares in the last quarter. Finally, Advisors Management Group Inc. ADV bought a new stake in shares of Powell Industries in the 3rd quarter valued at about $3,741,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the sale, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock worth $15,906,386 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 5.3 %

Shares of POWL opened at $300.51 on Friday. The firm has a market cap of $3.60 billion, a PE ratio of 28.11, a P/E/G ratio of 1.97 and a beta of 0.86. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98. The stock has a fifty day moving average price of $245.38 and a 200-day moving average price of $190.18.

Powell Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.