J2 Capital Management Inc Buys New Holdings in Powell Industries, Inc. (NASDAQ:POWL)

J2 Capital Management Inc purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,231 shares of the industrial products company’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Powell Industries during the third quarter valued at approximately $30,038,000. Victory Capital Management Inc. lifted its holdings 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 valued at $21,886,000 after acquiring an additional 90,504 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Powell Industries during the 2nd quarter worth $11,658,000. Stephens Investment Management Group LLC purchased a new position in Powell Industries in the third quarter valued at about $13,606,000. Finally, Sanctuary Advisors LLC purchased a new position in Powell Industries in the third quarter valued at about $12,176,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, 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. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $261.34 on Friday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.21 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 stock’s 50-day simple moving average is $259.98 and its 200-day simple moving average is $218.52.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is currently 8.62%.

Analyst Ratings Changes

A number of research firms have recently issued reports on POWL. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

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.