Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Assetmark Inc.

Assetmark Inc. raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,158 shares of the industrial products company’s stock after buying an additional 933 shares during the period. Assetmark Inc.’s holdings in Powell Industries were worth $2,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of POWL. Transform Wealth LLC boosted its holdings in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares during the period. Vanguard Group Inc. lifted its position in shares of Powell Industries by 2.7% during the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after purchasing an additional 17,177 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after purchasing an additional 35,818 shares during the period. Bank of New York Mellon Corp boosted its position in Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after buying an additional 1,015 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Powell Industries in the second quarter worth $11,658,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

Insider Activity at Powell Industries

In related news, Director James W. Mcgill sold 6,600 shares of the 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 transaction, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was 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 directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This represents a 0.00 % decrease in their position. The sale 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 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock valued at $15,906,386 over the last three months. 2.20% of the stock is owned by corporate insiders.

Powell Industries Trading Down 7.7 %

Shares of POWL stock opened at $317.23 on Thursday. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98. The company has a market cap of $3.80 billion, a P/E ratio of 29.68, a PEG ratio of 1.97 and a beta of 0.86. The firm has a fifty day moving average price of $242.36 and a 200 day moving average price of $189.40.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is 9.92%.

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.