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 business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 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. The firm has a market cap of $3.80 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. Powell Industries, Inc. has a 12 month low of $75.05 and a 12 month high of $364.98. The company’s 50-day moving average price is $242.36 and its two-hundred day moving average price is $189.40.

Powell Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Powell Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Powell Industries by 164.0% in the first quarter. BNP Paribas Financial Markets now owns 11,425 shares of the industrial products company’s stock valued at $1,626,000 after purchasing an additional 7,098 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in Powell Industries during the first quarter worth approximately $226,000. Texas Permanent School Fund Corp increased its position in shares of Powell Industries by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after purchasing an additional 175 shares during the period. Illinois Municipal Retirement Fund raised its position in Powell Industries by 11.4% during the first quarter. Illinois Municipal Retirement Fund now owns 5,946 shares of the industrial products company’s stock valued at $846,000 after purchasing an additional 607 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Powell Industries by 1.1% in the first quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock valued at $2,689,000 after buying an additional 200 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

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.