10,656 Shares in Powell Industries, Inc. (NASDAQ:POWL) Acquired by World Investment Advisors LLC

World Investment Advisors LLC bought a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,656 shares of the industrial products company’s stock, valued at approximately $2,366,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in Powell Industries by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after buying an additional 60 shares during the period. Farther Finance Advisors LLC boosted its position in Powell Industries by 110.5% during the third 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 last quarter. Diversified Trust Co grew its holdings in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 115 shares during the period. Finally, KBC Group NV raised its position in shares of Powell Industries by 64.3% in the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries 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 trade represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 60,000 shares of company stock worth $14,679,842 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

POWL has been the topic of several research analyst reports. Roth Mkm began coverage on Powell Industries in a research report on Wednesday. They set a “buy” rating and a $312.00 target price on the stock. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

Powell Industries Price Performance

POWL stock opened at $252.00 on Friday. The company’s 50-day moving average is $277.93 and its 200-day moving average is $205.54. The stock has a market capitalization of $3.03 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.85. Powell Industries, Inc. has a 1 year low of $76.29 and a 1 year high of $364.98.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.42%. 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.