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Atom Investors LP Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Powell Industries logo with Industrial Products background

Atom Investors LP decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 60.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,331 shares of the industrial products company's stock after selling 2,048 shares during the period. Atom Investors LP's holdings in Powell Industries were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in shares of Powell Industries in the third quarter worth $10,760,000. Cynosure Group LLC acquired a new position in shares of Powell Industries in the third quarter worth $439,000. BNP Paribas Financial Markets grew its stake in shares of Powell Industries by 74.4% in the third quarter. BNP Paribas Financial Markets now owns 9,133 shares of the industrial products company's stock worth $2,027,000 after acquiring an additional 3,897 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Powell Industries by 31.7% during the third quarter. Private Trust Co. NA now owns 3,590 shares of the industrial products company's stock worth $797,000 after purchasing an additional 865 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Powell Industries by 14.6% during the third quarter. Truvestments Capital LLC now owns 3,792 shares of the industrial products company's stock worth $842,000 after purchasing an additional 482 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Powell Industries from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd.

Check Out Our Latest Report on POWL

Powell Industries Trading Down 2.2 %

Shares of POWL stock traded down $6.52 on Thursday, reaching $285.24. 380,832 shares of the stock were exchanged, compared to its average volume of 384,416. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.37 and a beta of 0.85. The business's 50 day moving average price is $272.75 and its 200 day moving average price is $201.97.

Powell Industries Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Wednesday, November 20th. Powell Industries's payout ratio is 8.62%.

Powell Industries Company Profile

(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.

See Also

Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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