Independent Advisor Alliance Buys Shares of 16,621 Powell Industries, Inc. (NASDAQ:POWL)

Independent Advisor Alliance bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, Holdings Channel reports. The firm bought 16,621 shares of the industrial products company’s stock, valued at approximately $3,690,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 41 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in Powell Industries by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after acquiring an additional 60 shares in the last quarter. GAMMA Investing LLC raised its stake in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares in the last quarter. Finally, Diversified Trust Co raised its stake in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The stock was 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 in the company, valued at approximately $145,704,513.40. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday.

Powell Industries Stock Performance

Shares of POWL stock opened at $280.60 on Tuesday. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The stock has a market cap of $3.37 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The business’s fifty day moving average is $262.79 and its 200-day moving average is $196.90.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

About Powell Industries

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.