New York State Teachers Retirement System Sells 100 Shares of Powell Industries, Inc. (NASDAQ:POWL)

New York State Teachers Retirement System reduced its stake in Powell Industries, Inc. (NASDAQ:POWL) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 8,008 shares of the industrial products company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Powell Industries were worth $1,778,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of POWL. Transform Wealth LLC lifted its position 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 valued at $240,075,000 after buying an additional 1,667,728 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Powell Industries during the second quarter valued at approximately $11,658,000. Envestnet Asset Management Inc. bought a new position in shares of Powell Industries in the second quarter worth approximately $6,713,000. American Century Companies Inc. increased its stake in shares of Powell Industries by 15.0% in the second 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 in the last quarter. Finally, Spirepoint Private Client LLC bought a new stake in shares of Powell Industries during the 1st quarter valued at $3,533,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’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 of the company’s stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Thomas W. Powell sold 17,549 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total value of $4,498,335.17. Following the transaction, the insider now directly owns 1,630,779 shares in the company, valued at approximately $418,017,581.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,600 shares of company stock worth $14,167,686. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Thursday.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $346.37 on Friday. The company has a market cap of $4.15 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.00 and a beta of 0.86. Powell Industries, Inc. has a 52-week low of $75.05 and a 52-week high of $352.75. The firm’s fifty day moving average is $231.55 and its two-hundred day moving average is $185.13.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.31%. Powell Industries’s dividend payout ratio (DPR) is 9.92%.

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.