Centiva Capital LP Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Centiva Capital LP decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 51.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,334 shares of the industrial products company's stock after selling 7,728 shares during the quarter. Centiva Capital LP owned approximately 0.06% of Powell Industries worth $1,628,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of POWL. Cumberland Partners Ltd bought a new stake in shares of Powell Industries during the third quarter worth $555,000. SG Americas Securities LLC acquired a new stake in shares of Powell Industries during the second quarter worth $1,403,000. Loomis Sayles & Co. L P acquired a new stake in shares of Powell Industries during the third quarter worth $7,225,000. Victory Capital Management Inc. grew its stake in Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in Powell Industries by 34.8% in the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company's stock valued at $2,430,000 after acquiring an additional 2,827 shares during the period. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 60,000 shares of company stock valued at $14,679,842 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd.

Powell Industries Trading Up 8.5 %

NASDAQ:POWL traded up $22.83 during trading hours on Wednesday, hitting $291.76. 619,659 shares of the company were exchanged, compared to its average volume of 384,430. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85. Powell Industries, Inc. has a one year low of $75.05 and a one year high of $364.98. The company has a fifty day simple moving average of $271.15 and a 200 day simple moving average of $201.34.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.36%. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

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.