National Bank of Canada FI Reduces Stake in Powell Industries, Inc. (NASDAQ:POWL)

National Bank of Canada FI trimmed its position in Powell Industries, Inc. (NASDAQ:POWL) by 32.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486 shares of the industrial products company’s stock after selling 237 shares during the period. National Bank of Canada FI’s holdings in Powell Industries were worth $108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd raised its position in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after buying an additional 60 shares during the last quarter. Farther Finance Advisors LLC increased its position in 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 purchasing an additional 105 shares during the period. Diversified Trust Co lifted its holdings in Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after buying an additional 115 shares during the period. Finally, KBC Group NV boosted its position in shares of Powell Industries by 64.3% during the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 126 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the sale, the insider now owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $14,679,842 over the last ninety days. 2.20% of the stock is owned by company insiders.

Powell Industries Trading Up 0.2 %

Shares of POWL opened at $252.57 on Tuesday. Powell Industries, Inc. has a twelve month low of $76.29 and a twelve month high of $364.98. The company’s fifty day simple moving average is $278.06 and its 200-day simple moving average is $205.87. The company has a market cap of $3.04 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

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

Powell Industries Company 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.