Guidance Capital Inc. purchased a new position in Powell Industries, Inc. (NASDAQ:POWL – Free Report) during the 1st quarter, HoldingsChannel reports. The fund purchased 4,739 shares of the industrial products company’s stock, valued at approximately $674,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in Powell Industries by 1,377.9% during the third quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock worth $11,490,000 after purchasing an additional 129,219 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Powell Industries by 169.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock valued at $6,123,000 after acquiring an additional 46,413 shares during the last quarter. American Century Companies Inc. increased its position in shares of Powell Industries by 79.8% during the third quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock valued at $8,444,000 after acquiring an additional 45,209 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Powell Industries by 621.0% during the third quarter. Qube Research & Technologies Ltd now owns 47,187 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 40,642 shares during the last quarter. Finally, Jetstream Capital LLC acquired a new stake in shares of Powell Industries during the third quarter valued at about $2,902,000. 89.77% of the stock is owned by hedge funds and other institutional investors.
Powell Industries Stock Up 0.9 %
Shares of POWL traded up $1.31 during trading on Friday, reaching $143.40. 820,686 shares of the company traded hands, compared to its average volume of 330,568. Powell Industries, Inc. has a twelve month low of $57.78 and a twelve month high of $209.14. The stock has a market cap of $1.72 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.13 and a beta of 0.92. The stock has a 50-day simple moving average of $165.16 and a 200-day simple moving average of $137.68.
Powell Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th were issued a $0.265 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. Powell Industries’s payout ratio is 12.59%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th.
View Our Latest Stock Report on POWL
Insider Buying and Selling
In related news, Director Katheryn Baucom Curtis sold 5,000 shares of Powell Industries stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $165.79, for a total value of $828,950.00. Following the completion of the transaction, the director now owns 5,260 shares in the company, valued at $872,055.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Katheryn Baucom Curtis sold 5,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $165.79, for a total value of $828,950.00. Following the completion of the sale, the director now owns 5,260 shares in the company, valued at approximately $872,055.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael William Metcalf sold 5,800 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $157.52, for a total transaction of $913,616.00. Following the completion of the transaction, the executive vice president now directly owns 37,400 shares in the company, valued at $5,891,248. The disclosure for this sale can be found here. Insiders sold 31,900 shares of company stock worth $6,080,681 over the last 90 days. 2.20% of the stock is owned by insiders.
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.
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