Oppenheimer & Co. Inc. Sells 796 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Oppenheimer & Co. Inc. lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,869 shares of the industrial products company’s stock after selling 796 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Powell Industries were worth $1,081,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Transform Wealth LLC boosted its stake in shares of Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after acquiring an additional 1,667,728 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after acquiring an additional 17,177 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Powell Industries by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after purchasing an additional 90,504 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Performance

NASDAQ POWL opened at $289.01 on Tuesday. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The stock has a market capitalization of $3.47 billion, a PE ratio of 27.04, a P/E/G ratio of 1.60 and a beta of 0.86. The stock has a 50-day simple moving average of $250.62 and a 200 day simple moving average of $192.46.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend yield of 0.37%. Powell Industries’s dividend payout ratio is presently 9.92%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,600 shares of company stock valued at $15,906,386 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

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.