Oppenheimer & Co. Inc. Has $1.08 Million Stock Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Oppenheimer & Co. Inc. cut its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 14.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,869 shares of the industrial products company’s stock after selling 796 shares during the period. Oppenheimer & Co. Inc.’s holdings in Powell Industries were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Covestor Ltd raised its position in shares of Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 41 shares during the period. Chartwell Investment Partners LLC grew its holdings in shares of Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after buying an additional 60 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 valued at $41,000 after buying an additional 79 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Powell Industries by 7.1% during the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after buying an additional 115 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a 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 business’s stock in a transaction dated 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 transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated 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 owns 9,660 shares in the company, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock worth $15,906,386 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Trading Up 3.8 %

Shares of POWL stock opened at $289.01 on Tuesday. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.60 and a beta of 0.86. The stock’s fifty day simple moving average is $250.62 and its 200-day simple moving average is $192.46.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.37%. Powell Industries’s dividend payout ratio (DPR) is currently 9.92%.

Powell Industries Company 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.