3,899 Powell Industries, Inc. $POWL Shares Sold by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. lessened its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,090 shares of the industrial products company’s stock after selling 3,899 shares during the period. Powell Industries comprises 1.9% of GKV Capital Management Co. Inc.’s holdings, making the stock its 12th largest holding. GKV Capital Management Co. Inc. owned 0.10% of Powell Industries worth $6,473,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in POWL. BlackRock Inc. bought a new stake in shares of Powell Industries in the second quarter valued at approximately $1,033,376,000. Jupiter Topco LLC acquired a new position in Powell Industries in the 2nd quarter valued at $93,845,000. Bank of New York Mellon Corp acquired a new position in Powell Industries in the 2nd quarter valued at $60,389,000. Tidal Investments LLC raised its holdings in Powell Industries by 222.3% in the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock valued at $80,892,000 after acquiring an additional 194,840 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Powell Industries during the 2nd quarter valued at $54,335,000. 89.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $235.00 price target on shares of Powell Industries in a research note on Thursday, October 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $187.92.

Powell Industries Trading Down 2.8%

NASDAQ POWL opened at $141.77 on Friday. The firm’s 50 day simple moving average is $172.28 and its 200 day simple moving average is $212.14. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 1.52 and a beta of 1.25. Powell Industries, Inc. has a 1 year low of $92.59 and a 1 year high of $328.00.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is presently 6.91%.

Insider Activity

In related news, VP William Marshall Mauney, Jr. sold 301 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $56,488.67. Following the sale, the vice president directly owned 10,552 shares of the company’s stock, valued at $1,980,293.84. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett Cope sold 4,799 shares of Powell Industries stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $900,628.33. Following the completion of the transaction, the chief executive officer owned 507,934 shares in the company, valued at approximately $95,323,973.78. This represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 5,800 shares of company stock worth $1,074,115. Insiders own 2.20% of the company’s stock.

About Powell Industries

Powell Industries designs, manufactures and services custom-engineered electrical equipment and systems used to distribute, control and monitor electrical power. Its offerings include electrical switchgear, control rooms and integrated power-control systems for industrial and utility applications. The company serves customers in industries such as oil and gas, petrochemicals, utilities, mining and transportation. Its equipment is used in facilities including power plants, refineries and other energy and industrial sites, in North America and international markets.