BNP Paribas Financial Markets Has $2.03 Million Position in Powell Industries, Inc. (NASDAQ:POWL)

BNP Paribas Financial Markets lifted its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 74.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,133 shares of the industrial products company’s stock after buying an additional 3,897 shares during the period. BNP Paribas Financial Markets owned about 0.08% of Powell Industries worth $2,027,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in shares of Powell Industries in the first quarter valued at $375,000. GAMMA Investing LLC grew its position in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares during the period. SG Americas Securities LLC bought a new position in shares of Powell Industries in the 2nd quarter valued at about $1,403,000. Transform Wealth LLC increased its stake in shares of Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Powell Industries by 8.7% in the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 129 shares during the period. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $280.37 on Friday. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.48 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. The business has a fifty day simple moving average of $275.37 and a two-hundred day simple moving average of $203.46.

Powell Industries Dividend Announcement

The firm also recently disclosed 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is 8.62%.

Insider Activity at Powell Industries

In other Powell Industries 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 stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 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.

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.