Thrivent Financial for Lutherans Lowers Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Thrivent Financial for Lutherans lessened its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,343 shares of the industrial products company’s stock after selling 320 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Powell Industries worth $1,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in Powell Industries during the third quarter worth about $30,000. GAMMA Investing LLC boosted its position in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Farther Finance Advisors LLC grew 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 worth $44,000 after buying an additional 105 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Powell Industries during the 2nd quarter valued at approximately $47,000. Finally, Quarry LP purchased a new position in Powell Industries during the second quarter valued at $48,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other Powell Industries 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 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 $408,180,853.92. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 60,000 shares of company stock valued at $14,679,842 over the last three months. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Performance

NASDAQ:POWL opened at $267.38 on Friday. The firm has a market cap of $3.21 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.33 and a beta of 0.86. Powell Industries, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $364.98. The firm has a 50-day simple moving average of $267.76 and a two-hundred day simple moving average of $198.52.

Powell Industries Dividend Announcement

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

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.