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

by · The Markets Daily

Powell Industries, Inc. (NASDAQ:POWL – Get Free Report) major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred 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 owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $278.53 on Friday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. The business has a 50-day moving average of $247.95 and a 200 day moving average of $191.07. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is 9.92%.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Powell Industries

Institutional Investors Weigh In On Powell Industries

Several large investors have recently added to or reduced their stakes in POWL. Barclays PLC boosted its position in Powell Industries by 198.1% in the 3rd quarter. Barclays PLC now owns 60,969 shares of the industrial products company’s stock valued at $13,536,000 after buying an additional 40,515 shares during the period. Montchanin Asset Management LLC purchased a new position in Powell Industries in the third quarter valued at $240,000. XTX Topco Ltd purchased a new position in Powell Industries in the third quarter valued at $802,000. Zacks Investment Management grew its stake in Powell Industries by 6.4% during the 3rd quarter. Zacks Investment Management now owns 8,026 shares of the industrial products company’s stock worth $1,782,000 after purchasing an additional 484 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Powell Industries during the 3rd quarter worth about $30,038,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

About Powell Industries

(Get Free Report)

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.

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