J2 Capital Management Inc Invests $495,000 in Powell Industries, Inc. (NASDAQ:POWL)

J2 Capital Management Inc acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, HoldingsChannel reports. The fund acquired 2,231 shares of the industrial products company’s stock, valued at approximately $495,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of POWL. State Street Corp grew its holdings in shares of Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares during the last quarter. Geode Capital Management LLC grew its stake in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after buying an additional 9,692 shares during the last quarter. Wellington Management Group LLP bought a new position in Powell Industries during the 3rd quarter worth $30,038,000. Victory Capital Management Inc. lifted its stake in Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Powell Industries by 12.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock valued at $20,833,000 after acquiring an additional 10,352 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Up 1.6 %

Shares of POWL opened at $261.34 on Friday. The firm has a market capitalization of $3.15 billion, a PE ratio of 21.26, a P/E/G ratio of 1.21 and a beta of 0.88. The firm has a 50-day moving average price of $259.98 and a 200 day moving average price of $218.52. Powell Industries, Inc. has a 52-week low of $76.29 and a 52-week high of $364.98.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.41%. Powell Industries’s dividend payout ratio is presently 8.62%.

Analysts Set New Price Targets

A number of research firms recently weighed in on POWL. Roth Mkm assumed coverage on shares of Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective on the stock. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

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.