Crossmark Global Holdings Inc. Makes New Investment in Powell Industries, Inc. (NASDAQ:POWL)

Crossmark Global Holdings Inc. bought a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, Holdings Channel reports. The institutional investor bought 904 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other hedge funds also recently modified their holdings of POWL. Transform Wealth LLC raised its position in Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after buying an additional 1,667,728 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Powell Industries by 2.7% in the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after purchasing an additional 17,177 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Powell Industries by 15.0% during 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 purchasing an additional 35,818 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Powell Industries in the 2nd quarter worth about $11,658,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Up 3.8 %

POWL stock opened at $289.01 on Tuesday. The stock has a market cap of $3.47 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.60 and a beta of 0.86. The stock’s fifty day simple moving average is $250.62 and its two-hundred day simple moving average is $192.46. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend 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%.

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.