Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 18.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 385,888 shares of the industrial products company's stock after selling 85,465 shares during the quarter. Pacer Advisors Inc. owned 3.22% of Powell Industries worth $85,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transform Wealth LLC lifted its holdings in Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company's stock valued at $240,075,000 after acquiring an additional 1,667,728 shares during the period. Vanguard Group Inc. lifted its stake in shares of Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company's stock worth $93,410,000 after purchasing an additional 17,177 shares during the period. American Century Companies Inc. boosted its holdings in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company's stock worth $39,347,000 after buying an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 buying an additional 1,015 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Powell Industries by 1,119.3% during 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 buying an additional 90,504 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling

In other news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now directly owns 9,660 shares in the company, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 10,000 shares of the business's 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,600 shares of company stock worth $15,906,386. Insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Friday, November 15th.

Powell Industries Price Performance

Shares of POWL stock traded up $1.89 during trading hours on Friday, reaching $289.88. 438,144 shares of the company traded hands, compared to its average volume of 381,790. The firm has a 50-day moving average price of $260.58 and a 200 day moving average price of $195.56. The company has a market cap of $3.48 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.79 and a beta of 0.86. Powell Industries, Inc. has a 12-month low of $75.05 and a 12-month high of $364.98.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.37%. Powell Industries's dividend payout ratio (DPR) is 8.62%.

Powell Industries Company 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.