Carnegie Investment Counsel Buys 326 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Carnegie Investment Counsel raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,025 shares of the industrial products company’s stock after acquiring an additional 326 shares during the period. Carnegie Investment Counsel owned approximately 0.12% of Powell Industries worth $3,109,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in shares of Powell Industries during the 3rd quarter worth approximately $30,000. Quest Partners LLC bought a new stake in Powell Industries in the third quarter worth $35,000. Farther Finance Advisors LLC raised its stake in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Covestor Ltd lifted its position in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Powell Industries by 155.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock worth $70,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Powell Industries Stock Up 1.6 %

Shares of NASDAQ POWL opened at $261.34 on Friday. Powell Industries, Inc. has a twelve month low of $76.29 and a twelve month high of $364.98. The firm has a market cap of $3.15 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The business has a fifty day simple moving average of $259.98 and a two-hundred day simple moving average of $218.00.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s payout ratio is 8.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on POWL shares. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday. Roth Mkm initiated coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.