Royce & Associates LP Sells 7,818 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Royce & Associates LP lowered its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and 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’s holdings in Powell Industries were worth $16,529,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Powell Industries during the third quarter valued at $30,000. Farther Finance Advisors LLC boosted its position 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 valued at $44,000 after acquiring an additional 105 shares during the last quarter. Covestor Ltd boosted its position in shares of Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 41 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 79 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Powell Industries by 155.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL stock opened at $278.53 on Friday. The stock has a market capitalization of $3.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. The company’s 50-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.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.38%. Powell Industries’s dividend payout ratio (DPR) is presently 9.92%.

Insider Transactions at Powell Industries

In related news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This represents a 3.53 % 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 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Friday.

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.