Barclays PLC Increases Position in Powell Industries, Inc. (NASDAQ:POWL)

Barclays PLC raised its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 198.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,969 shares of the industrial products company’s stock after buying an additional 40,515 shares during the period. Barclays PLC owned about 0.51% of Powell Industries worth $13,536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of POWL. Raymond James & Associates boosted its holdings in Powell Industries by 39.3% in the second quarter. Raymond James & Associates now owns 17,891 shares of the industrial products company’s stock valued at $2,566,000 after purchasing an additional 5,052 shares during the period. Carnegie Investment Counsel grew its position in shares of Powell Industries by 21.0% during the second quarter. Carnegie Investment Counsel now owns 12,929 shares of the industrial products company’s stock worth $1,854,000 after buying an additional 2,247 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after buying an additional 1,015 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Powell Industries by 77.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,888 shares of the industrial products company’s stock worth $1,705,000 after buying an additional 5,201 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Powell Industries by 42.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,344 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 693 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 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 transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 60,000 shares of company stock valued at $14,679,842 in the last ninety days. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 1.5 %

POWL stock opened at $252.00 on Monday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.31 and a beta of 0.85. Powell Industries, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $364.98. The business has a 50 day moving average price of $277.93 and a 200 day moving average price of $205.54.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is 8.62%.

Analysts Set New Price Targets

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