Los Angeles Capital Management LLC Sells 1,797 Shares of Powell Industries, Inc. $POWL

Los Angeles Capital Management LLC reduced its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,417 shares of the industrial products company’s stock after selling 1,797 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of Powell Industries worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in POWL. Brooklyn Investment Group raised its position in shares of Powell Industries by 168.8% during the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares during the period. Harbour Investments Inc. increased its stake in Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 197 shares in the last quarter. Morgan Dempsey Capital Management LLC acquired a new position in Powell Industries during the second quarter worth $52,000. Optimum Investment Advisors lifted its stake in shares of Powell Industries by 114.3% in the second quarter. Optimum Investment Advisors now owns 300 shares of the industrial products company’s stock valued at $63,000 after buying an additional 160 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Powell Industries by 472.0% during the first quarter. AlphaQuest LLC now owns 429 shares of the industrial products company’s stock valued at $73,000 after buying an additional 354 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $312.00.

Powell Industries Price Performance

NASDAQ POWL opened at $356.23 on Thursday. The company has a fifty day moving average price of $325.73 and a 200-day moving average price of $251.83. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.95 and a beta of 0.81. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is 7.43%.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the transaction, the executive vice president owned 25,700 shares of the company’s stock, valued at $7,677,618. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Birchall sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at $1,742,201. The trade was a 30.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by company insiders.

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.