Bay Rivers Group Purchases 1,177 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Bay Rivers Group grew its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 105.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,294 shares of the industrial products company’s stock after purchasing an additional 1,177 shares during the period. Bay Rivers Group’s holdings in Powell Industries were worth $508,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in POWL. Hollencrest Capital Management bought a new stake in Powell Industries during the third quarter valued at approximately $30,000. Quest Partners LLC purchased a new stake in shares of Powell Industries during the 3rd quarter valued at $35,000. Blue Trust Inc. bought a new stake in shares of Powell Industries during the 4th quarter worth $43,000. Farther Finance Advisors LLC grew its position in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares in the last quarter. Finally, Quarry LP bought a new position in Powell Industries in the second quarter valued at $48,000. Institutional investors own 89.77% of the company’s stock.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries 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 transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Roth Mkm initiated coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. Finally, Roth Capital raised Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Stock Down 16.1 %

Powell Industries stock opened at $243.84 on Tuesday. The firm has a fifty day simple moving average of $256.09 and a two-hundred day simple moving average of $224.81. Powell Industries, Inc. has a twelve month low of $77.24 and a twelve month high of $364.98. The company has a market capitalization of $2.94 billion, a PE ratio of 19.84, a P/E/G ratio of 1.62 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Powell Industries 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.