Stifel Financial Corp Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Stifel Financial Corp purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,177 shares of the industrial products company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of Powell Industries in the 3rd quarter worth about $904,000. Polar Asset Management Partners Inc. bought a new position in Powell Industries during the 3rd quarter worth approximately $2,390,000. HighTower Advisors LLC bought a new position in Powell Industries during the 3rd quarter worth approximately $1,805,000. Rockefeller Capital Management L.P. acquired a new position in shares of Powell Industries in the 3rd quarter worth approximately $10,760,000. Finally, Cynosure Group LLC bought a new position in Powell Industries during the third quarter worth $439,000. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on POWL shares. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday. Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target on the stock. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Stock Down 0.1 %

Powell Industries stock opened at $231.07 on Monday. The firm has a 50-day moving average price of $273.03 and a two-hundred day moving average price of $210.04. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.31 and a beta of 0.85. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 35,000 shares of company stock valued at $9,340,842. 2.20% of the stock is currently owned by corporate insiders.

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.