Mutual of America Capital Management LLC Trims Stake in Powell Industries, Inc. (NASDAQ:POWL)

Mutual of America Capital Management LLC lessened its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,407 shares of the industrial products company’s stock after selling 111 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Powell Industries were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transform Wealth LLC raised its holdings in Powell Industries by 25,920.5% in 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 acquiring an additional 1,667,728 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Powell Industries during the 2nd quarter valued at about $11,658,000. Stephens Investment Management Group LLC purchased a new stake in shares of Powell Industries during the third quarter valued at approximately $13,606,000. Finally, Envestnet Asset Management Inc. purchased a new position in Powell Industries in the second quarter valued at about $6,713,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is currently owned by corporate insiders.

Powell Industries Price Performance

NASDAQ:POWL opened at $262.35 on Friday. The business has a 50 day simple moving average of $266.36 and a 200 day simple moving average of $198.08. The firm has a market capitalization of $3.15 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.43 and a beta of 0.86. Powell Industries, Inc. has a 12-month low of $75.05 and a 12-month high of $364.98.

Powell Industries Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of 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.