Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Fmr LLC

FMR LLC trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 98.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,984 shares of the industrial products company's stock after selling 252,261 shares during the quarter. FMR LLC's holdings in Powell Industries were worth $1,106,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. increased its holdings in Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company's stock valued at $39,347,000 after acquiring an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company's stock valued at $14,271,000 after acquiring an additional 1,015 shares in the last quarter. Victory Capital Management Inc. lifted 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 worth $21,886,000 after acquiring an additional 90,504 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Powell Industries by 12.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company's stock valued at $20,833,000 after purchasing an additional 10,352 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Powell Industries during the 2nd quarter valued at $11,658,000. Institutional investors own 89.77% of the company's stock.

Powell Industries Stock Down 4.5 %

POWL traded down $11.32 on Tuesday, hitting $241.25. 332,182 shares of the company traded hands, compared to its average volume of 385,422. Powell Industries, Inc. has a 12-month low of $76.29 and a 12-month high of $364.98. The company has a 50 day moving average of $277.84 and a 200-day moving average of $206.30. The stock has a market capitalization of $2.90 billion, a PE ratio of 19.63, a PEG ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.44%. Powell Industries's payout ratio is currently 8.62%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on POWL. Roth Mkm began coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a "buy" rating and a $312.00 target price for the company. Roth Capital upgraded shares of Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is owned by corporate 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.