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

Penserra Capital Management LLC acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,279 shares of the industrial products company's stock, valued at approximately $2,059,000. Penserra Capital Management LLC owned 0.08% of Powell Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Powell Industries during the third quarter worth $30,000. Quest Partners LLC bought a new position in Powell Industries during the third quarter worth about $35,000. Farther Finance Advisors LLC grew its stake in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 105 shares during the period. Covestor Ltd increased its holdings in shares of Powell Industries by 21.8% in the third quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock worth $51,000 after acquiring an additional 41 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now directly owns 682,265 shares of the company's stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 60,000 shares of company stock valued at $14,679,842 over the last ninety days. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Powell Industries from a "buy" rating to a "hold" rating in a research note on Saturday.

Powell Industries Price Performance

Powell Industries stock traded down $8.97 during midday trading on Tuesday, hitting $271.63. The company's stock had a trading volume of 464,731 shares, compared to its average volume of 383,510. The company has a 50-day moving average price of $262.79 and a two-hundred day moving average price of $196.90. Powell Industries, Inc. has a 1-year low of $75.05 and a 1-year high of $364.98. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 1.47 and a beta of 0.86.

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 given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.39%. Powell Industries's dividend 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.