Heartland Advisors Inc. lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 26.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 379,385 shares of the industrial products company’s stock after buying an additional 79,884 shares during the quarter. Heartland Advisors Inc. owned approximately 3.32% of Powell Industries worth $11,378,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Texas Permanent School Fund lifted its stake in Powell Industries by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 6,258 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 61 shares during the period. Alliancebernstein L.P. bought a new position in Powell Industries during the 2nd quarter valued at about $205,000. Wells Fargo & Company MN lifted its stake in shares of Powell Industries by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 6,736 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 150 shares during the period. Bessemer Group Inc. lifted its stake in shares of Powell Industries by 7.9% in the 2nd quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 600 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Powell Industries by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,330 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 983 shares during the period. 64.59% of the stock is currently owned by institutional investors.
Separately, BidaskClub upgraded shares of Powell Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th.
Powell Industries, Inc. (NASDAQ:POWL) traded down $0.10 during midday trading on Tuesday, reaching $27.69. 29,100 shares of the company’s stock were exchanged, compared to its average volume of 39,526. Powell Industries, Inc. has a 12 month low of $26.76 and a 12 month high of $47.24. The company has a market cap of $317.60, a PE ratio of 132.33 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Monday, November 20th. Powell Industries’s dividend payout ratio (DPR) is currently 1,040.10%.
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About Powell Industries
Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.
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