Empowered Funds LLC Takes $9.89 Million Position in Powell Industries, Inc. (NASDAQ:POWL)

Empowered Funds LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,557 shares of the industrial products company’s stock, valued at approximately $9,891,000. Empowered Funds LLC owned about 0.37% of Powell Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of POWL. Hollencrest Capital Management bought a new position in shares of Powell Industries during the 3rd quarter valued at about $30,000. GAMMA Investing LLC increased its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Powell Industries by 110.5% in the 3rd 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 bought a new stake in shares of Powell Industries in the 2nd quarter worth about $47,000. Finally, Quarry LP bought a new position in Powell Industries during the 2nd quarter valued at about $48,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated 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 directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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 transaction, the director now owns 9,660 shares in the company, valued at $1,795,214.40. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Powell Industries Price Performance

POWL stock opened at $278.53 on Friday. The company has a market capitalization of $3.34 billion, a PE ratio of 26.06, a P/E/G ratio of 1.82 and a beta of 0.86. The firm’s 50-day moving average is $247.95 and its 200 day moving average is $191.07. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98.

Powell Industries Announces Dividend

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 paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. Powell Industries’s dividend payout ratio is currently 9.92%.

Powell Industries 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.