Powell Industries, Inc. (NASDAQ:POWL) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 257,049 shares of the industrial products company’s stock after purchasing an additional 9,692 shares during the period. Geode Capital Management LLC’s holdings in Powell Industries were worth $57,071,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in Powell Industries in the third quarter valued at $30,000. Quest Partners LLC purchased a new position in shares of Powell Industries in the 3rd quarter worth about $35,000. Farther Finance Advisors LLC lifted its stake 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 valued at $44,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd grew its holdings in shares of Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 41 shares during the period. Finally, UMB Bank n.a. increased its position in Powell Industries by 155.3% during the 3rd 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 in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Stock Up 1.0 %

POWL opened at $245.80 on Monday. The firm’s 50 day moving average is $276.96 and its 200-day moving average is $207.61. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98. The firm has a market capitalization of $2.95 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.43%. Powell Industries’s dividend payout ratio is currently 8.62%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on POWL. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Roth Mkm began coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective on the stock.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the company’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 value of $2,461,400.00. Following the transaction, the insider now directly owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 in the last ninety days. Insiders own 2.20% of the company’s stock.

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.