Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Sells $1,738,700.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Trading Down 5.3 %

Powell Industries stock opened at $300.51 on Friday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 28.11, a PEG ratio of 1.97 and a beta of 0.86. The stock has a fifty day moving average price of $245.38 and a 200 day moving average price of $190.18. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.35%. Powell Industries’s dividend payout ratio is presently 9.92%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in Powell Industries during the third quarter worth about $30,000. Quest Partners LLC acquired a new stake in Powell Industries during the third quarter worth about $35,000. GAMMA Investing LLC increased its stake in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Powell Industries during the second quarter worth about $47,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.