Cynosure Group LLC Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Cynosure Group LLC bought a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,979 shares of the industrial products company's stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Transform Wealth LLC increased its stake in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company's stock worth $240,075,000 after acquiring an additional 1,667,728 shares during the period. Victory Capital Management Inc. increased its position in shares of Powell Industries by 1,119.3% in the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock worth $21,886,000 after purchasing an additional 90,504 shares during the period. Driehaus Capital Management LLC acquired a new position in Powell Industries in the second quarter valued at about $11,658,000. Stephens Investment Management Group LLC bought a new stake in Powell Industries during the third quarter worth about $13,606,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Powell Industries during the second quarter worth about $6,713,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm'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 sale, the insider now 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 over the last 90 days. Insiders own 2.20% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd.

Powell Industries Trading Down 3.4 %

NASDAQ POWL traded down $9.28 on Thursday, hitting $262.35. 560,205 shares of the company's stock were exchanged, compared to its average volume of 384,284. The stock has a 50-day moving average of $266.36 and a 200-day moving average of $198.08. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.43 and a beta of 0.86. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week 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 $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

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.