Powell Industries, Inc. (NASDAQ:POWL) Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Powell Industries, Inc. (NASDAQ:POWL) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,098 shares of the industrial products company’s stock after acquiring an additional 497 shares during the period. Franklin Resources Inc.’s holdings in Powell Industries were worth $4,462,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in POWL. World Investment Advisors LLC purchased a new stake in shares of Powell Industries during the 3rd quarter worth about $2,366,000. Sanctuary Advisors LLC acquired a new position in shares of Powell Industries during the 3rd quarter worth about $12,176,000. Invst LLC boosted its position in shares of Powell Industries by 18.5% in the third quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock valued at $1,105,000 after acquiring an additional 776 shares during the period. Geode Capital Management LLC boosted its holdings in Powell Industries by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after purchasing an additional 9,692 shares during the period. Finally, Barclays PLC lifted its stake in shares of Powell Industries by 198.1% in the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company’s stock valued at $13,536,000 after buying an additional 40,515 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

NASDAQ POWL opened at $234.18 on Tuesday. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98. The business has a 50 day simple moving average of $276.32 and a 200 day simple moving average of $208.47. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio is 8.62%.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the business’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 transaction of $2,461,400.00. Following the transaction, the insider now owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

POWL has been the topic of several recent research reports. StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research 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.