MML Investors Services LLC Sells 1,718 Shares of Powell Industries, Inc. (NASDAQ:POWL)

MML Investors Services LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 23.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,623 shares of the industrial products company’s stock after selling 1,718 shares during the period. MML Investors Services LLC’s holdings in Powell Industries were worth $1,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in Powell Industries during the third quarter worth $30,000. Quest Partners LLC bought a new stake in Powell Industries during the third quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in shares of 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 acquiring an additional 105 shares during the last quarter. Covestor Ltd lifted its stake in shares of Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 41 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Powell Industries by 155.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 191 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 3.8 %

Shares of NASDAQ:POWL opened at $231.97 on Thursday. The firm has a market cap of $2.79 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.31 and a beta of 0.85. Powell Industries, Inc. has a 12-month low of $76.29 and a 12-month high of $364.98. The business has a fifty day simple moving average of $277.38 and a 200 day simple moving average of $206.48.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.46%. Powell Industries’s payout ratio is currently 8.62%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the sale, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 60,000 shares of company stock worth $14,679,842. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on POWL shares. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company.

Powell Industries 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.