Powell Industries, Inc. (NASDAQ:POWL) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its position in Powell Industries, Inc. (NASDAQ:POWL) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,025 shares of the industrial products company’s stock after acquiring an additional 326 shares during the period. Carnegie Investment Counsel’s holdings in Powell Industries were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cumberland Partners Ltd purchased a new position in Powell Industries during the 3rd quarter worth approximately $555,000. Loomis Sayles & Co. L P acquired a new stake in shares of Powell Industries in the third quarter worth $7,225,000. Victory Capital Management Inc. raised 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 purchasing an additional 90,504 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in Powell Industries by 34.8% during the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock valued at $2,430,000 after purchasing an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock valued at $11,434,000 after purchasing an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred 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 $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 available through this link. 2.20% of the stock is owned by insiders.

Powell Industries Trading Up 1.6 %

Shares of POWL stock opened at $261.34 on Friday. Powell Industries, Inc. has a 12-month low of $76.29 and a 12-month high of $364.98. The business’s 50 day moving average is $259.98 and its two-hundred day moving average is $218.00. The company has a market capitalization of $3.15 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.21 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were paid a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.41%. Powell Industries’s dividend payout ratio is currently 8.62%.

Wall Street Analysts Forecast Growth

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

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.