Moors & Cabot Inc. Invests $201,000 in Powell Industries, Inc. (NASDAQ:POWL)

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

A number of other large investors have also recently bought and sold shares of POWL. ProShare Advisors LLC bought a new stake in shares of Powell Industries in the 1st quarter valued at $266,000. Vanguard Group Inc. increased its holdings in shares of Powell Industries by 2.7% during the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after acquiring an additional 17,177 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Powell Industries during the first quarter worth approximately $329,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Powell Industries by 4.0% in 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 in the last quarter. Finally, Lazard Asset Management LLC grew its position in Powell Industries by 141.2% in the 1st quarter. Lazard Asset Management LLC now owns 9,468 shares of the industrial products company’s stock valued at $1,347,000 after purchasing an additional 5,542 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction 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 sale, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. The trade was 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 worth $15,906,386. 2.20% of the stock is owned by insiders.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $289.88 on Monday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.65 and a beta of 0.86. Powell Industries, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $364.98. The firm’s 50-day simple moving average is $260.58 and its 200 day simple moving average is $196.09.

Powell Industries Dividend Announcement

The company also recently declared 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is currently 8.62%.

Analyst Upgrades and Downgrades

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

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.