Independent Advisor Alliance Invests $3.69 Million in Powell Industries, Inc. (NASDAQ:POWL)

Independent Advisor Alliance bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,621 shares of the industrial products company’s stock, valued at approximately $3,690,000. Independent Advisor Alliance owned approximately 0.14% of Powell Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of POWL. Covestor Ltd grew its stake in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’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 value of $2,461,400.00. Following the sale, the insider now owns 1,658,328 shares of the company’s stock, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $14,679,842. Insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 3.2 %

Shares of POWL opened at $280.60 on Tuesday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.47 and a beta of 0.86. The stock has a 50 day moving average of $262.79 and a 200-day moving average of $196.90. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98.

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 issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is 8.62%.

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.