Algert Global LLC Grows Position in Powell Industries, Inc. (NASDAQ:POWL)

Algert Global LLC boosted its position in Powell Industries, Inc. (NASDAQ:POWL) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,244 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Algert Global LLC owned 0.16% of Powell Industries worth $4,272,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in POWL. Great Valley Advisor Group Inc. raised its holdings in shares of Powell Industries by 34.8% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock valued at $2,430,000 after purchasing an additional 2,827 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Powell Industries by 12.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock valued at $20,833,000 after buying an additional 10,352 shares during the last quarter. Intech Investment Management LLC purchased a new position in Powell Industries in the third quarter valued at $2,469,000. Moors & Cabot Inc. acquired a new stake in Powell Industries in the third quarter valued at $201,000. Finally, Jennison Associates LLC purchased a new stake in Powell Industries during the 3rd quarter worth about $684,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In related news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction on 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 sale, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This represents a 3.53 % 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 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday.

Powell Industries Trading Up 0.7 %

POWL stock opened at $289.88 on Monday. The stock has a market cap of $3.48 billion, a P/E ratio of 23.59, a PEG ratio of 1.47 and a beta of 0.86. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The company’s 50 day moving average is $260.58 and its two-hundred day moving average is $196.09.

Powell Industries Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.37%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

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.