Navellier & Associates Inc. Sells 8,203 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Navellier & Associates Inc. trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 27.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,073 shares of the industrial products company’s stock after selling 8,203 shares during the period. Navellier & Associates Inc.’s holdings in Powell Industries were worth $4,900,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of POWL. Hollencrest Capital Management bought a new stake in Powell Industries during the third quarter valued at about $30,000. Quest Partners LLC bought a new stake in Powell Industries during the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC raised 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 valued at $41,000 after purchasing 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 purchasing an additional 105 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Powell Industries in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Friday, November 15th.

Powell Industries Stock Performance

NASDAQ POWL opened at $268.05 on Thursday. The stock has a 50 day moving average price of $255.73 and a 200-day moving average price of $194.01. Powell Industries, Inc. has a one year low of $75.05 and a one year high of $364.98. The company has a market capitalization of $3.21 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.79 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. Shareholders of record on Wednesday, November 20th will be given 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 0.40%. Powell Industries’s dividend payout ratio (DPR) is currently 8.62%.

Insider Buying and Selling at Powell Industries

In related news, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction on 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 directly owns 9,660 shares in the company, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on 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 transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock worth $15,906,386 over the last 90 days. 2.20% of the stock is owned by insiders.

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.