Intech Investment Management LLC Acquires New Position in Powell Industries, Inc. (NASDAQ:POWL)

Intech Investment Management LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,123 shares of the industrial products company’s stock, valued at approximately $2,469,000. Intech Investment Management LLC owned 0.09% of Powell Industries as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cumberland Partners Ltd purchased a new stake in shares of Powell Industries in the third quarter worth about $555,000. SG Americas Securities LLC bought a new position in Powell Industries in the 2nd quarter valued at $1,403,000. Victory Capital Management Inc. grew its position in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after purchasing an additional 90,504 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 worth $11,434,000 after purchasing an additional 2,793 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock worth $4,723,000 after purchasing an additional 3,385 shares during the period. Institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Up 0.7 %

POWL stock opened at $289.88 on Monday. The company’s 50 day moving average is $260.58 and its 200 day moving average is $196.09. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.65 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 dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Buying and Selling

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This represents a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction 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 in the company, valued at approximately $1,795,214.40. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,600 shares of company stock worth $15,906,386. Corporate 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.