Moors & Cabot Inc. Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Moors & Cabot Inc. acquired a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 905 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transform Wealth LLC raised its holdings in shares of Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares in the last quarter. Vanguard Group Inc. raised its stake in Powell Industries by 2.7% in the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after purchasing an additional 17,177 shares in the last quarter. American Century Companies Inc. lifted its position in Powell Industries by 15.0% during the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after buying an additional 1,015 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Trading Up 0.7 %

POWL opened at $289.88 on Monday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 23.59, a PEG ratio of 1.65 and a beta of 0.86. The stock has a 50-day moving average price of $260.58 and a 200-day moving average price of $196.09. Powell Industries, Inc. has a 12-month low of $75.05 and a 12-month high of $364.98.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.37%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Insiders Place Their Bets

In related news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,600 shares of company stock valued at $15,906,386. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.