Powell Industries, Inc. (NASDAQ:POWL) Stock Position Lowered by Pitcairn Co.

Pitcairn Co. decreased its position in Powell Industries, Inc. (NASDAQ:POWL) by 23.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,502 shares of the industrial products company’s stock after selling 766 shares during the period. Pitcairn Co.’s holdings in Powell Industries were worth $555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Powell Industries by 2.7% in the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after buying an additional 17,177 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Powell Industries during the 1st quarter worth about $329,000. CANADA LIFE ASSURANCE Co grew its stake in Powell Industries by 4.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,138 shares of the industrial products company’s stock valued at $1,155,000 after acquiring an additional 310 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Powell Industries by 141.2% in the 1st quarter. Lazard Asset Management LLC now owns 9,468 shares of the industrial products company’s stock valued at $1,347,000 after purchasing an additional 5,542 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Powell Industries in the first quarter worth approximately $375,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Trading Down 3.2 %

NASDAQ POWL opened at $280.60 on Tuesday. The company has a market capitalization of $3.37 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The firm’s fifty day simple moving average is $262.79 and its 200-day simple moving average is $196.90.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the transaction, the insider now owns 1,658,328 shares of the company’s stock, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 60,000 shares of company stock worth $14,679,842 in the last three months. 2.20% of the stock is owned by insiders.

Powell Industries Profile

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.