54,851 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,851 shares of the industrial products company’s stock, valued at approximately $12,176,000. Sanctuary Advisors LLC owned about 0.46% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of POWL. Invst LLC increased its stake in Powell Industries by 18.5% during the third quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock worth $1,105,000 after acquiring an additional 776 shares during the last quarter. Geode Capital Management LLC increased its position in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after purchasing an additional 9,692 shares in the last quarter. Barclays PLC raised its holdings in Powell Industries by 198.1% in the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company’s stock valued at $13,536,000 after buying an additional 40,515 shares during the period. Montchanin Asset Management LLC acquired a new position in Powell Industries during the third quarter valued at approximately $240,000. Finally, XTX Topco Ltd acquired a new position in Powell Industries during the third quarter valued at approximately $802,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of research reports. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday. They issued a “buy” rating and a $312.00 target price for the company. Finally, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 60,000 shares of company stock worth $14,679,842 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 1.5 %

Shares of NASDAQ POWL opened at $252.00 on Friday. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98. The stock has a market capitalization of $3.03 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.37 and a beta of 0.85. The firm’s 50-day moving average price is $277.93 and its two-hundred day moving average price is $205.54.

Powell Industries Dividend Announcement

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

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.