Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Thomas W. Powell Sells 5,000 Shares

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries 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 completion of the transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Stock Down 7.7 %

NASDAQ:POWL opened at $317.23 on Thursday. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. The company has a fifty day simple moving average of $242.36 and a two-hundred day simple moving average of $189.40.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.33%. Powell Industries’s payout ratio is 9.92%.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently added to or reduced their stakes in POWL. Covestor Ltd lifted its stake in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after buying an additional 41 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Powell Industries by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after purchasing an additional 60 shares during the last quarter. GAMMA Investing LLC boosted its stake in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

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.