8,146 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by HighTower Advisors LLC

HighTower Advisors LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,146 shares of the industrial products company’s stock, valued at approximately $1,805,000. HighTower Advisors LLC owned approximately 0.07% of Powell Industries at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $30,000. Quest Partners LLC acquired a new position in Powell Industries in the 3rd quarter valued at $35,000. Farther Finance Advisors LLC lifted its position in shares of Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares during the period. Covestor Ltd grew its holdings in shares of 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 purchasing an additional 41 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Powell Industries by 155.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 191 shares during the period. Institutional investors own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the transaction, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 in the last quarter. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 1.5 %

Powell Industries stock opened at $252.00 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of 20.50, a P/E/G ratio of 1.37 and a beta of 0.85. 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 price is $277.93 and its two-hundred day moving average price is $205.54.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is 8.62%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on POWL shares. Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday. They set a “buy” rating and a $312.00 price objective for the company. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.