Penserra Capital Management LLC Purchases New Position in Powell Industries, Inc. (NASDAQ:POWL)

Penserra Capital Management LLC acquired a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,279 shares of the industrial products company’s stock, valued at approximately $2,059,000. Penserra Capital Management LLC owned about 0.08% of Powell Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in POWL. Vanguard Group Inc. grew its stake in Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after buying an additional 17,177 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Powell Industries in the 1st quarter valued at $329,000. CANADA LIFE ASSURANCE Co boosted its stake in Powell Industries by 4.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,138 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 310 shares during the period. Lazard Asset Management LLC boosted its stake in Powell Industries by 141.2% during the 1st quarter. Lazard Asset Management LLC now owns 9,468 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 5,542 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Powell Industries in the first quarter valued at $375,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 60,000 shares of company stock worth $14,679,842. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Down 3.2 %

NASDAQ:POWL opened at $280.60 on Tuesday. Powell Industries, Inc. has a 12-month low of $75.05 and a 12-month high of $364.98. The stock’s 50 day simple moving average is $262.79 and its 200-day simple moving average is $196.90. The firm has a market cap of $3.37 billion, a P/E ratio of 22.83, a PEG ratio of 1.47 and a beta of 0.86.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.38%. Powell Industries’s payout ratio is currently 8.62%.

Powell Industries 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.