Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,458 shares of the industrial products company's stock after selling 7,818 shares during the quarter. Royce & Associates LP owned about 0.62% of Powell Industries worth $16,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in shares of Powell Industries during the third quarter valued at approximately $30,000. GAMMA Investing LLC increased its stake in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after buying an additional 79 shares during the period. Farther Finance Advisors LLC lifted its holdings in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after buying an additional 105 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Powell Industries in the 2nd quarter valued at about $47,000. Finally, Quarry LP acquired a new stake in shares of Powell Industries during the second quarter valued at about $48,000. 89.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business's 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 completion of the transaction, the insider now directly owns 677,265 shares of the company's stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of the company's stock in a transaction dated 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 transaction, the director now owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock valued at $15,906,386 over the last quarter. Insiders own 2.20% of the company's stock.

Powell Industries Price Performance

Shares of POWL stock traded down $21.98 on Friday, hitting $278.53. 658,122 shares of the stock traded hands, compared to its average volume of 372,566. The company's fifty day moving average is $247.95 and its 200 day moving average is $191.07. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The company has a market capitalization of $3.34 billion, a PE ratio of 26.06, a PEG ratio of 1.82 and a beta of 0.86.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid 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 yield of 0.38%. Powell Industries's dividend payout ratio (DPR) is 9.92%.

Wall Street Analysts Forecast Growth

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

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.