Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 18.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 385,888 shares of the industrial products company’s stock after selling 85,465 shares during the period. Pacer Advisors Inc.’s holdings in Powell Industries were worth $85,663,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Transform Wealth LLC raised its stake in shares of Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares during the period. Vanguard Group Inc. boosted its position in shares of Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after acquiring an additional 17,177 shares in the last quarter. American Century Companies Inc. increased its stake in Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after buying an additional 1,015 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 90,504 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Up 9.9 %

Shares of NASDAQ:POWL opened at $287.82 on Friday. Powell Industries, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $364.98. The firm’s 50-day simple moving average is $258.15 and its 200-day simple moving average is $194.66. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.79 and a beta of 0.86.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.37%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Transactions at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the transaction, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock valued at $15,906,386 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

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.