Powell Industries, Inc. (NASDAQ:POWL) Stake Increased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. raised its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 34.8% during the third quarter, HoldingsChannel reports. The fund owned 10,947 shares of the industrial products company’s stock after acquiring an additional 2,827 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Powell Industries were worth $2,430,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in POWL. Covestor Ltd raised its stake in shares of Powell Industries by 21.8% in 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 raised its stake in Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after buying an additional 60 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after buying an additional 79 shares during 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 increased its holdings 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 valued at $385,000 after acquiring an additional 115 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Powell Industries stock opened at $289.88 on Monday. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The firm’s 50-day moving average is $260.58 and its 200-day moving average is $196.09. The company 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid 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 payout ratio is currently 8.62%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Powell Industries

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

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.