Powell Industries, Inc. $POWL Stock Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in Powell Industries, Inc. (NASDAQ:POWL) by 6.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 59,618 shares of the industrial products company’s stock after selling 4,198 shares during the period. Commonwealth Equity Services LLC’s holdings in Powell Industries were worth $10,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Powell Industries in the second quarter valued at approximately $1,033,376,000. Jupiter Topco LLC acquired a new position in shares of Powell Industries during the 2nd quarter worth $93,845,000. Tidal Investments LLC increased its stake in shares of Powell Industries by 222.3% during the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock worth $80,892,000 after purchasing an additional 194,840 shares during the last quarter. Tema ETFs LLC raised its holdings in shares of Powell Industries by 217.3% during the 2nd quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock valued at $76,943,000 after purchasing an additional 184,010 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Powell Industries by 55.1% during the 1st quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company’s stock valued at $121,643,000 after purchasing an additional 79,932 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other news, insider Ping Ni sold 700 shares of Powell Industries stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $167.14, for a total value of $116,998.00. Following the transaction, the insider owned 5,339 shares of the company’s stock, valued at $892,360.46. This trade represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Cope sold 4,799 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $900,628.33. Following the completion of the sale, the chief executive officer owned 507,934 shares of the company’s stock, valued at $95,323,973.78. The trade was a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,800 shares of company stock worth $1,074,115 over the last 90 days. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

Shares of POWL stock opened at $141.77 on Friday. The stock’s 50 day simple moving average is $172.28 and its 200 day simple moving average is $212.14. Powell Industries, Inc. has a twelve month low of $92.59 and a twelve month high of $328.00. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.52 and a beta of 1.25.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio is presently 6.91%.

Analyst Upgrades and Downgrades

POWL has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a research note on Thursday, October 1st. Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average price target of $187.92.

Powell Industries Company Profile

Powell Industries designs, manufactures and services custom-engineered electrical equipment and systems used to distribute, control and monitor electrical power. Its offerings include electrical switchgear, control rooms and integrated power-control systems for industrial and utility applications. The company serves customers in industries such as oil and gas, petrochemicals, utilities, mining and transportation. Its equipment is used in facilities including power plants, refineries and other energy and industrial sites, in North America and international markets.