Range Financial Group LLC Purchases Shares of 13,120 Powell Industries, Inc. (NASDAQ:POWL)

Range Financial Group LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,120 shares of the industrial products company’s stock, valued at approximately $2,908,000. Powell Industries accounts for 1.3% of Range Financial Group LLC’s portfolio, making the stock its 12th biggest holding.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in Powell Industries during the third quarter worth $30,000. Quest Partners LLC acquired a new stake in Powell Industries in the third quarter worth about $35,000. Farther Finance Advisors LLC boosted its holdings 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 worth $44,000 after buying an additional 105 shares during the last quarter. Quarry LP bought a new position in Powell Industries during the second quarter worth about $48,000. Finally, Covestor Ltd boosted its holdings in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after buying an additional 41 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on POWL shares. Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective on the stock. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Monday.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 25,000 shares of company stock worth $6,879,442. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ POWL traded down $13.51 during trading on Tuesday, hitting $237.12. The stock had a trading volume of 297,173 shares, compared to its average volume of 420,226. The company has a market capitalization of $2.85 billion, a PE ratio of 19.29, a P/E/G ratio of 1.31 and a beta of 0.88. The company’s 50-day moving average price is $269.63 and its two-hundred day moving average price is $213.11. Powell Industries, Inc. has a 12 month low of $76.29 and a 12 month high of $364.98.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.45%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s 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.