Aviva PLC Lowers Stock Holdings in Powell Industries, Inc. $POWL

Aviva PLC lowered its stake in Powell Industries, Inc. (NASDAQ:POWL) by 25.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,644 shares of the industrial products company’s stock after selling 893 shares during the period. Aviva PLC’s holdings in Powell Industries were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. New Vernon Capital Holdings II LLC purchased a new position in Powell Industries in the 1st quarter valued at approximately $34,554,000. GW&K Investment Management LLC acquired a new position in Powell Industries in the first quarter valued at $27,984,000. RPG Investment Advisory LLC lifted its holdings in shares of Powell Industries by 342.4% during the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company’s stock worth $26,252,000 after acquiring an additional 119,289 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Powell Industries during the first quarter worth approximately $16,405,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Powell Industries by 137.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 134,946 shares of the industrial products company’s stock worth $22,985,000 after buying an additional 78,163 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Powell Industries

In other news, EVP Michael William Metcalf sold 3,200 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the transaction, the executive vice president owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Birchall sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $328.20 on Friday. The firm’s 50-day simple moving average is $326.88 and its 200-day simple moving average is $252.36. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $413.00. The firm has a market cap of $3.96 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, November 19th. Powell Industries’s dividend payout ratio (DPR) is presently 7.43%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $312.00.

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.