Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 50.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,067 shares of the industrial products company's stock after selling 60,662 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.50% of Powell Industries worth $13,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Powell Industries during the third quarter worth about $30,000. Quest Partners LLC acquired a new stake in Powell Industries during the third quarter worth about $35,000. Farther Finance Advisors LLC raised its stake in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after acquiring an additional 105 shares during the period. Covestor Ltd raised its stake in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock worth $51,000 after acquiring an additional 41 shares during the period. Finally, GAMMA Investing LLC raised its stake in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

Powell Industries Stock Down 2.2 %

NASDAQ POWL traded down $6.52 on Thursday, hitting $285.24. The stock had a trading volume of 380,457 shares, compared to its average volume of 384,416. Powell Industries, Inc. has a one year low of $75.05 and a one year high of $364.98. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.37 and a beta of 0.85. The company's 50-day moving average is $272.75 and its two-hundred day moving average is $201.97.

Powell Industries Announces Dividend

The company 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 $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is 8.62%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 60,000 shares of company stock worth $14,679,842. Insiders own 2.20% 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.