Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Powell Industries, Inc. (NASDAQ:POWL) by 96.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,819 shares of the industrial products company’s stock after selling 54,726 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Powell Industries were worth $404,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Powell Industries during the third quarter worth $30,000. Quest Partners LLC acquired a new stake in Powell Industries during the 3rd quarter valued at $35,000. GAMMA Investing LLC increased 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 worth $41,000 after buying an additional 79 shares during the period. Farther Finance Advisors LLC boosted its position 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 valued at $44,000 after buying an additional 105 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries during the second quarter valued at about $47,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Stock Up 1.9 %

POWL stock opened at $267.38 on Friday. The company has a market capitalization of $3.21 billion, a PE ratio of 21.76, a P/E/G ratio of 1.33 and a beta of 0.86. The stock’s 50 day moving average is $267.76 and its two-hundred day moving average is $198.52. Powell Industries, Inc. has a 52-week low of $75.05 and a 52-week high of $364.98.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.40%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the sale, the insider now directly owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 60,000 shares of company stock valued at $14,679,842 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd.

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.