Penserra Capital Management LLC Takes $2.06 Million 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 third quarter, HoldingsChannel reports. The fund acquired 9,279 shares of the industrial products company’s stock, valued at approximately $2,059,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Algert Global LLC lifted its position in shares of Powell Industries by 2.7% during the 3rd quarter. Algert Global LLC now owns 19,244 shares of the industrial products company’s stock valued at $4,272,000 after acquiring an additional 500 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Powell Industries by 34.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock valued at $2,430,000 after buying an additional 2,827 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Powell Industries by 12.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock worth $20,833,000 after buying an additional 10,352 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Powell Industries in the third quarter worth $2,469,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Powell Industries during the third quarter valued at $201,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $280.60 on Tuesday. The firm has a market cap of $3.37 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98. The firm’s 50 day moving average price is $262.79 and its 200 day moving average price is $196.90.

Powell Industries Dividend Announcement

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