Cibc World Market Inc. Boosts Position in Powell Industries, Inc. (NASDAQ:POWL)

Cibc World Market Inc. grew its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 438.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,746 shares of the industrial products company’s stock after buying an additional 49,471 shares during the quarter. Cibc World Market Inc. owned 0.50% of Powell Industries worth $13,464,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its position in Powell Industries by 0.9% during the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after purchasing an additional 3,403 shares during the period. Geode Capital Management LLC lifted its stake in shares of Powell Industries by 3.9% during the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after purchasing an additional 9,692 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Powell Industries in the third quarter worth about $30,038,000. Victory Capital Management Inc. grew its stake in shares of Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Powell Industries by 12.4% during the 3rd 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 period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Performance

Shares of POWL opened at $239.78 on Friday. Powell Industries, Inc. has a one year low of $100.25 and a one year high of $364.98. The stock has a 50-day moving average price of $252.15 and a 200 day moving average price of $226.92. The company has a market capitalization of $2.89 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.25 and a beta of 0.88.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s payout ratio is currently 8.62%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on POWL shares. Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

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.