Farther Finance Advisors LLC Purchases 105 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Farther Finance Advisors LLC raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 110.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200 shares of the industrial products company’s stock after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC’s holdings in Powell Industries were worth $44,000 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. Texas Permanent School Fund Corp raised its holdings in shares of Powell Industries by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after buying an additional 175 shares in the last quarter. Swiss National Bank boosted its stake in shares of Powell Industries by 1.1% in the 1st quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock valued at $2,689,000 after purchasing an additional 200 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Powell Industries by 8.7% during the 1st quarter. Russell Investments Group Ltd. now owns 22,190 shares of the industrial products company’s stock valued at $3,158,000 after purchasing an additional 1,770 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Powell Industries during the 1st quarter worth approximately $321,000. Finally, ProShare Advisors LLC bought a new position in Powell Industries in the 1st quarter valued at approximately $266,000. 89.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

Powell Industries Stock Down 5.3 %

Shares of POWL stock opened at $300.51 on Friday. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The stock’s fifty day simple moving average is $245.38 and its 200 day simple moving average is $190.18. The firm has a market capitalization of $3.60 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.97 and a beta of 0.86.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is currently 9.92%.

Insider Activity

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 shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the transaction, the director now owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock valued at $15,906,386 over the last quarter. 2.20% of the stock is owned by company insiders.

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.