CWA Asset Management Group LLC Buys Shares of 4,426 Powell Industries, Inc. (NASDAQ:POWL)

CWA Asset Management Group LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, HoldingsChannel reports. The firm bought 4,426 shares of the industrial products company’s stock, valued at approximately $983,000.

Several other institutional investors have also added to or reduced their stakes in POWL. SG Americas Securities LLC purchased a new position in shares of Powell Industries in the 2nd quarter worth $1,403,000. Quadrature Capital Ltd purchased a new position in shares of Powell Industries in the 1st quarter worth $1,927,000. Raymond James & Associates boosted its stake in shares of Powell Industries by 18.9% in the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock worth $4,723,000 after buying an additional 3,385 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries in the 3rd quarter worth $13,606,000. Finally, Virtu Financial LLC lifted its position in Powell Industries by 198.8% during the first quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company’s stock valued at $1,031,000 after purchasing an additional 4,819 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares in the company, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,600 shares of company stock valued at $14,167,686 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Performance

NASDAQ POWL opened at $346.37 on Monday. The company has a market capitalization of $4.15 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.99 and a beta of 0.86. The business’s fifty day moving average is $231.55 and its 200 day moving average is $185.68. Powell Industries, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $352.75.

Powell Industries Dividend Announcement

The firm also recently declared 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 is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.31%. Powell Industries’s dividend payout ratio is presently 9.92%.

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.