Powell Industries, Inc. (POWL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in Powell Industries, Inc. (NASDAQ:POWL) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,200 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. California Public Employees Retirement System owned about 0.29% of Powell Industries worth $1,062,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund raised its holdings in Powell Industries by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 6,258 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 61 shares during the period. Alliancebernstein L.P. bought a new position in Powell Industries in the 2nd quarter valued at about $205,000. Wells Fargo & Company MN raised its holdings in Powell Industries by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 6,736 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 150 shares during the period. Bessemer Group Inc. raised its holdings in Powell Industries by 7.9% in the 2nd quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 600 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in Powell Industries by 32.4% in the 1st quarter. OppenheimerFunds Inc. now owns 11,934 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 2,917 shares during the period. 64.43% of the stock is currently owned by hedge funds and other institutional investors.

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Separately, BidaskClub raised shares of Powell Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th.

Powell Industries, Inc. (POWL) opened at $27.79 on Friday. The firm has a market cap of $317.61, a PE ratio of 132.33 and a beta of 0.86. Powell Industries, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $47.24.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 21st will be issued a $0.26 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.04 annualized dividend and a yield of 3.74%. Powell Industries’s dividend payout ratio is currently 1,040.10%.

Powell Industries Profile

Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.

Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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