Crossmark Global Holdings Inc. Acquires New Stake in Powell Industries, Inc. (NASDAQ:POWL)

Crossmark Global Holdings Inc. bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 904 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Transform Wealth LLC lifted its stake in shares of Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after acquiring an additional 1,667,728 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Powell Industries in the 2nd quarter valued at $11,658,000. Stephens Investment Management Group LLC acquired a new stake in shares of Powell Industries during the third quarter worth $13,606,000. Envestnet Asset Management Inc. bought a new position in Powell Industries during the second quarter worth $6,713,000. Finally, American Century Companies Inc. lifted its holdings in Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after buying an additional 35,818 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Stock Performance

Powell Industries stock opened at $289.01 on Tuesday. The stock’s 50 day moving average price is $250.62 and its two-hundred day moving average price is $192.46. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.60 and a beta of 0.86. Powell Industries, Inc. has a 52-week low of $75.05 and a 52-week high of $364.98.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is currently 9.92%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. This trade represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $1,226,544.00. Following the transaction, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,600 shares of company stock worth $15,906,386. Company 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.