Stratos Wealth Partners LTD. Purchases 4,924 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Stratos Wealth Partners LTD. grew its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,429 shares of the industrial products company’s stock after acquiring an additional 4,924 shares during the period. Stratos Wealth Partners LTD. owned about 0.26% of Powell Industries worth $6,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. UMB Bank n.a. increased its stake in shares of Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after buying an additional 191 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Powell Industries during the second quarter valued at approximately $47,000. Quarry LP purchased a new stake in Powell Industries in the second quarter worth $48,000. Finally, Plato Investment Management Ltd purchased a new stake in Powell Industries in the first quarter worth $50,000. 89.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the transaction, the insider now directly owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,350 shares of company stock worth $14,774,341. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 4th.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $271.33 on Friday. Powell Industries, Inc. has a 1 year low of $72.51 and a 1 year high of $284.45. The stock has a market capitalization of $3.25 billion, a P/E ratio of 32.22, a P/E/G ratio of 1.53 and a beta of 0.88. The company’s 50-day moving average is $198.90 and its 200 day moving average is $169.78.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The firm had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. During the same quarter in the prior year, the company earned $1.52 EPS. The business’s revenue was up 49.8% compared to the same quarter last year. Research analysts anticipate that Powell Industries, Inc. will post 12.01 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.39%. Powell Industries’s payout ratio is 12.59%.

Powell Industries Company 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.