B. Riley Wealth Advisors Inc. Takes $1.36 Million Position in Powell Industries, Inc. (NASDAQ:POWL)

B. Riley Wealth Advisors Inc. acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,112 shares of the industrial products company’s stock, valued at approximately $1,361,000. B. Riley Wealth Advisors Inc. owned approximately 0.05% of Powell Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in POWL. Wellington Management Group LLP purchased a new stake in shares of Powell Industries in the third quarter valued at approximately $30,038,000. Victory Capital Management Inc. boosted its position in shares of Powell Industries by 1,119.3% during 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 in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Powell Industries during the 2nd quarter worth $11,658,000. Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries in the 3rd quarter valued at about $13,606,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Powell Industries in the third quarter valued at about $12,176,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Powell Industries Price Performance

POWL stock opened at $252.57 on Tuesday. The company’s 50 day simple moving average is $278.06 and its 200-day simple moving average is $205.87. Powell Industries, Inc. has a 12 month low of $76.29 and a 12 month high of $364.98. The firm has a market capitalization of $3.04 billion, a PE ratio of 20.55, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction 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 sale, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 60,000 shares of company stock valued at $14,679,842. Corporate insiders own 2.20% of the company’s stock.

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.