Algert Global LLC Boosts Stake in Powell Industries, Inc. (NASDAQ:POWL)

Algert Global LLC grew its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,244 shares of the industrial products company’s stock after acquiring an additional 500 shares during the quarter. Algert Global LLC’s holdings in Powell Industries were worth $4,272,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Transform Wealth LLC increased its position in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after buying an additional 90,504 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Powell Industries in the second quarter valued at approximately $11,658,000. Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries during the third quarter valued at approximately $13,606,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Powell Industries during the second quarter valued at approximately $6,713,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,600 shares of company stock valued at $15,906,386. Insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 0.7 %

NASDAQ POWL opened at $289.88 on Monday. The business’s 50-day moving average price is $260.58 and its 200 day moving average price is $196.09. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The company has a market capitalization of $3.48 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.37%. Powell Industries’s dividend payout ratio is presently 8.62%.

Wall Street Analyst Weigh In

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

Powell Industries 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.