CWA Asset Management Group LLC Makes New $983,000 Investment in Powell Industries, Inc. (NASDAQ:POWL)

CWA Asset Management Group LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,426 shares of the industrial products company’s stock, valued at approximately $983,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Powell Industries in the second quarter worth $1,403,000. Quadrature Capital Ltd bought a new stake in shares of Powell Industries in the first quarter valued at $1,927,000. Raymond James & Associates raised its stake in shares of Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after buying an additional 3,385 shares during the period. Stephens Investment Management Group LLC bought a new stake in shares of Powell Industries in the third quarter valued at $13,606,000. Finally, Virtu Financial LLC raised its stake in shares of Powell Industries by 198.8% during the 1st quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company’s stock valued at $1,031,000 after purchasing an additional 4,819 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the transaction, the insider now owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction that occurred 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 directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,600 shares of company stock worth $14,167,686. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Thursday.

Powell Industries Stock Up 2.6 %

Shares of NASDAQ POWL opened at $346.37 on Monday. The stock’s 50-day simple moving average is $231.55 and its two-hundred day simple moving average is $185.68. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $352.75. The firm has a market capitalization of $4.15 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.99 and a beta of 0.86.

Powell Industries Dividend Announcement

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 $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is currently 9.92%.

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.