Principal Financial Group Inc. Purchases 2,793 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. boosted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,507 shares of the industrial products company’s stock after acquiring an additional 2,793 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Powell Industries worth $11,434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in POWL. GAMMA Investing LLC increased its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after buying an additional 79 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 worth $44,000 after acquiring an additional 105 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Powell Industries during the 2nd quarter worth approximately $47,000. Quarry LP bought a new stake in Powell Industries in the 2nd quarter valued at $48,000. Finally, Plato Investment Management Ltd acquired a new stake in Powell Industries during the 1st quarter valued at $50,000. 89.77% of the stock is owned by institutional investors.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,600 shares of company stock valued at $15,906,386 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $278.53 on Monday. The firm has a 50-day moving average of $247.95 and a 200-day moving average of $191.56. Powell Industries, Inc. has a 52-week low of $75.05 and a 52-week high of $364.98. The stock has a market cap of $3.34 billion, a PE ratio of 26.06, a PEG ratio of 1.60 and a beta of 0.86.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is currently 9.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Friday.

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.