Empowered Funds LLC Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Empowered Funds LLC purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,557 shares of the industrial products company’s stock, valued at approximately $9,891,000.

A number of other large investors also recently added to or reduced their stakes in POWL. Covestor Ltd increased 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 worth $51,000 after buying an additional 41 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 115 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Price Performance

NASDAQ:POWL opened at $278.53 on Friday. The company’s 50-day moving average is $247.95 and its two-hundred day moving average is $191.07. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.82 and a beta of 0.86. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. Powell Industries’s dividend payout ratio is currently 9.92%.

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 Friday.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,600 shares of company stock worth $15,906,386. Insiders own 2.20% of the company’s stock.

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.