Powell Industries, Inc. (NASDAQ:POWL) Shares Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,133 shares of the industrial products company’s stock after acquiring an additional 2,704 shares during the period. Stratos Wealth Partners LTD. owned about 0.28% of Powell Industries worth $7,566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Powell Industries by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 5,294 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 151 shares during the last quarter. Creative Planning acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $310,000. GAMMA Investing LLC grew its position in shares of Powell Industries by 62.9% during the 3rd quarter. GAMMA Investing LLC now owns 466 shares of the industrial products company’s stock valued at $103,000 after buying an additional 180 shares during the last quarter. Diversified Trust Co raised its stake in Powell Industries by 7.1% during the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 115 shares during the period. Finally, Brookstone Capital Management bought a new position in Powell Industries in the third quarter worth about $214,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

POWL has been the subject of several recent research reports. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Powell Industries Stock Up 5.0 %

Powell Industries stock opened at $244.85 on Thursday. The firm has a 50-day moving average price of $250.13 and a two-hundred day moving average price of $229.14. Powell Industries, Inc. has a 52-week low of $122.00 and a 52-week high of $364.98. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.25 and a beta of 0.87.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.44%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 19th. Powell Industries’s dividend payout ratio is 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.