Stifel Financial Corp Buys Shares of 1,177 Powell Industries, Inc. (NASDAQ:POWL)

Stifel Financial Corp purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,177 shares of the industrial products company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Powell Industries in the third quarter valued at $30,000. Quest Partners LLC purchased a new position in Powell Industries during the 3rd quarter valued at about $35,000. Farther Finance Advisors LLC raised 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 worth $44,000 after acquiring an additional 105 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Powell Industries in the second quarter valued at about $47,000. Finally, Quarry LP acquired a new position in shares of Powell Industries during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL opened at $231.07 on Monday. Powell Industries, Inc. has a 12 month low of $76.29 and a 12 month high of $364.98. The business has a 50-day moving average of $273.03 and a two-hundred day moving average of $210.04. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85.

Powell Industries Dividend Announcement

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

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the sale, the insider now owns 1,658,328 shares of the company’s stock, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 35,000 shares of company stock worth $9,340,842 in the last quarter. 2.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on POWL. Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

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.