Rockefeller Capital Management L.P. Purchases Shares of 48,473 Powell Industries, Inc. (NASDAQ:POWL)

Rockefeller Capital Management L.P. acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 48,473 shares of the industrial products company’s stock, valued at approximately $10,760,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POWL. Cumberland Partners Ltd bought a new stake in Powell Industries in the 3rd quarter valued at about $555,000. SG Americas Securities LLC bought a new stake in Powell Industries in the second quarter worth about $1,403,000. Victory Capital Management Inc. raised its holdings in shares of Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after purchasing an additional 90,504 shares during the period. Great Valley Advisor Group Inc. lifted its position in shares of Powell Industries by 34.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock valued at $2,430,000 after buying an additional 2,827 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in Powell Industries during the third quarter worth about $7,225,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Up 2.8 %

NASDAQ POWL opened at $274.80 on Tuesday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.36 and a beta of 0.86. The stock’s 50-day simple moving average is $268.98 and its two-hundred day simple moving average is $199.78. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is 8.62%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’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 in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 60,000 shares of company stock valued at $14,679,842 in the last 90 days. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd.

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.