Range Financial Group LLC Buys New Shares in Powell Industries, Inc. (NASDAQ:POWL)

Range Financial Group LLC bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,120 shares of the industrial products company’s stock, valued at approximately $2,908,000. Powell Industries makes up approximately 1.3% of Range Financial Group LLC’s investment portfolio, making the stock its 12th largest holding. Range Financial Group LLC owned about 0.11% of Powell Industries as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Powell Industries by 0.9% in the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after purchasing an additional 3,403 shares during the period. American Century Companies Inc. lifted its holdings in Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after acquiring an additional 35,818 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Powell Industries by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Powell Industries in the 3rd quarter valued at about $30,038,000. Finally, Victory Capital Management Inc. lifted its holdings in 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 valued at $21,886,000 after acquiring an additional 90,504 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 25,000 shares of company stock worth $6,879,442. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 5.4 %

Shares of POWL traded down $13.51 during trading hours on Tuesday, reaching $237.12. The company’s stock had a trading volume of 297,173 shares, compared to its average volume of 420,226. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.31 and a beta of 0.88. Powell Industries, Inc. has a 1-year low of $76.29 and a 1-year high of $364.98. The company has a 50 day moving average of $269.63 and a two-hundred day moving average of $213.11.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.45%. Powell Industries’s dividend payout ratio is currently 8.62%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on POWL shares. StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, 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 price objective for the company.

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.