Principal Financial Group Inc. Has $11.43 Million Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Principal Financial Group Inc. increased its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,507 shares of the industrial products company’s stock after acquiring an additional 2,793 shares during the period. Principal Financial Group Inc. owned about 0.43% of Powell Industries worth $11,434,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd raised its holdings in shares of Powell Industries by 21.8% in 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 during the last quarter. Chartwell Investment Partners LLC increased its stake in 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 valued at $1,712,000 after buying an additional 60 shares during the last quarter. Farther Finance Advisors LLC lifted 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 worth $44,000 after buying an additional 105 shares in the last quarter. Diversified Trust Co boosted its stake in shares of 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 buying an additional 115 shares during the last quarter. Finally, KBC Group NV grew its holdings 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 valued at $71,000 after acquiring an additional 126 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $231.07 on Monday. The business has a fifty day moving average price of $273.03 and a two-hundred day moving average price of $210.04. The stock has a market capitalization of $2.78 billion, a PE ratio of 18.80, a P/E/G ratio of 1.31 and a beta of 0.85. Powell Industries, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $364.98.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.46%. Powell Industries’s payout ratio is 8.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 35,000 shares of company stock valued at $9,340,842. 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.