32,548 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 32,548 shares of the industrial products company’s stock, valued at approximately $7,225,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of POWL. Transform Wealth LLC grew its stake in Powell Industries by 25,920.5% in the second 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. lifted its holdings in 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 during the period. Driehaus Capital Management LLC purchased a new stake in Powell Industries during the second quarter worth $11,658,000. Stephens Investment Management Group LLC purchased a new stake in Powell Industries during the third quarter worth $13,606,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Powell Industries during the second quarter worth $6,713,000. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the sale, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock worth $14,679,842. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 3.4 %

Powell Industries stock opened at $262.35 on Thursday. The business has a fifty day moving average of $264.73 and a two-hundred day moving average of $197.63. The firm has a market cap of $3.15 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.43 and a beta of 0.86. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.40%. Powell Industries’s dividend payout ratio is currently 8.62%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd.

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.