1,979 Shares in Powell Industries, Inc. (NASDAQ:POWL) Purchased by Cynosure Group LLC

Cynosure Group LLC acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,979 shares of the industrial products company’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cumberland Partners Ltd acquired a new position in shares of Powell Industries in the 3rd quarter valued at $555,000. SG Americas Securities LLC acquired a new position in shares of Powell Industries in the second quarter worth about $1,403,000. Victory Capital Management Inc. boosted its stake 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 worth $21,886,000 after acquiring an additional 90,504 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in shares of 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 acquiring an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Powell Industries by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock valued at $11,434,000 after purchasing an additional 2,793 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $262.35 on Thursday. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86. The business’s 50 day moving average price is $264.73 and its 200-day moving average price is $197.63. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $364.98.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.40%. Powell Industries’s dividend payout ratio is currently 8.62%.

Analysts Set New Price Targets

Separately, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the 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 completion of the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 60,000 shares of company stock worth $14,679,842 in the last 90 days. Insiders own 2.20% of the company’s stock.

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.