Powell Industries, Inc. (NASDAQ:POWL) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 18.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,276 shares of the industrial products company’s stock after buying an additional 3,385 shares during the quarter. Raymond James & Associates’ holdings in Powell Industries were worth $4,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after buying an additional 79 shares in the last quarter. UMB Bank n.a. boosted its holdings in Powell Industries by 155.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 191 shares during the period. Picton Mahoney Asset Management acquired a new position in Powell Industries in the second quarter worth $47,000. Quarry LP acquired a new position in Powell Industries in the second quarter worth $48,000. Finally, Plato Investment Management Ltd acquired a new position in Powell Industries in the first quarter worth $50,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Thomas W. Powell sold 2,451 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,350 shares of company stock valued at $14,774,341 over the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd.

Powell Industries Price Performance

Powell Industries stock opened at $279.33 on Friday. The company has a market cap of $3.35 billion, a PE ratio of 26.13, a P/E/G ratio of 1.46 and a beta of 0.86. The company has a fifty day moving average price of $217.07 and a two-hundred day moving average price of $178.53. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $284.45.

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.