State of Alaska Department of Revenue Decreases Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

State of Alaska Department of Revenue decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,336 shares of the industrial products company’s stock after selling 84 shares during the period. State of Alaska Department of Revenue’s holdings in Powell Industries were worth $1,184,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in POWL. GAMMA Investing LLC increased its position in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. Diversified Trust Co increased its holdings in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Powell Industries by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,294 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 151 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Powell Industries by 2.9% during the 2nd quarter. WINTON GROUP Ltd now owns 6,224 shares of the industrial products company’s stock valued at $893,000 after buying an additional 174 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in shares of Powell Industries by 2.2% during the first quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now directly owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 17,549 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the sale, the insider now owns 1,630,779 shares in the company, valued at approximately $418,017,581.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,350 shares of company stock valued at $14,614,341 in the last quarter. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd.

Powell Industries Stock Performance

NASDAQ:POWL opened at $268.85 on Tuesday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. Powell Industries, Inc. has a one year low of $75.05 and a one year high of $284.45. The stock has a 50-day simple moving average of $217.07 and a 200 day simple moving average of $179.29.

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.