Entropy Technologies LP Sells 2,999 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Entropy Technologies LP cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 65.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,572 shares of the industrial products company’s stock after selling 2,999 shares during the quarter. Entropy Technologies LP’s holdings in Powell Industries were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in POWL. Swiss National Bank increased its position in Powell Industries by 1.1% during the 1st quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock valued at $2,689,000 after purchasing an additional 200 shares during the period. Russell Investments Group Ltd. increased its position in shares of Powell Industries by 8.7% during the first quarter. Russell Investments Group Ltd. now owns 22,190 shares of the industrial products company’s stock valued at $3,158,000 after buying an additional 1,770 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Powell Industries during the first quarter valued at about $321,000. ProShare Advisors LLC bought a new position in Powell Industries in the first quarter worth about $266,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Powell Industries by 135.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 6,175 shares of the industrial products company’s stock worth $879,000 after buying an additional 3,550 shares during the period. Institutional investors own 89.77% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the company’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 sale, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. This represents a 0.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is currently owned by company insiders.

Powell Industries Trading Down 7.3 %

Shares of POWL stock opened at $278.53 on Friday. The company’s fifty day moving average price is $247.95 and its 200-day moving average price is $191.41. The stock has a market cap of $3.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.82 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. Investors of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s payout ratio is currently 9.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Friday.

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.