Entropy Technologies LP Sells 2,999 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Entropy Technologies LP trimmed its position in Powell Industries, Inc. (NASDAQ:POWL) by 65.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,572 shares of the industrial products company’s stock after selling 2,999 shares during the quarter. Entropy Technologies LP’s holdings in Powell Industries were worth $349,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versor Investments LP lifted its stake in Powell Industries by 48.4% in the 3rd quarter. Versor Investments LP now owns 3,355 shares of the industrial products company’s stock worth $745,000 after purchasing an additional 1,094 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Powell Industries by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Powell Industries by 36.8% in the third quarter. Los Angeles Capital Management LLC now owns 13,526 shares of the industrial products company’s stock worth $3,003,000 after buying an additional 3,636 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Powell Industries during the third quarter valued at $201,000. Finally, Covestor Ltd grew its position 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 buying an additional 41 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. The trade was a 40.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $278.53 on Friday. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The firm has a market cap of $3.34 billion, a PE ratio of 26.06, a PEG ratio of 1.82 and a beta of 0.86. The company has a 50 day simple moving average of $247.95 and a two-hundred day simple moving average of $191.41.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is currently 9.92%.

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.