32,548 Shares in Powell Industries, Inc. (NASDAQ:POWL) Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P purchased a new position in Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,548 shares of the industrial products company’s stock, valued at approximately $7,225,000. Loomis Sayles & Co. L P owned approximately 0.27% of Powell Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Transform Wealth LLC grew its position in 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 in the last quarter. Victory Capital Management Inc. grew its position in Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after acquiring an additional 90,504 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Powell Industries in the second quarter worth about $11,658,000. Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries during the third quarter valued at approximately $13,606,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Powell Industries during the second quarter valued at approximately $6,713,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In related 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 completion of the sale, the insider now owns 682,265 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 60,000 shares of company stock worth $14,679,842 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

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

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $262.35 on Thursday. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The business has a 50 day simple moving average of $264.73 and a two-hundred day simple moving average of $197.63. The firm has a market capitalization of $3.15 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.40%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

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.