Assenagon Asset Management S.A. Reduces Position in Powell Industries, Inc. (NASDAQ:POWL)

Assenagon Asset Management S.A. cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWLFree Report) by 52.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,475 shares of the industrial products company’s stock after selling 30,970 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.24% of Powell Industries worth $2,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Powell Industries by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 214,114 shares of the industrial products company’s stock worth $4,159,000 after buying an additional 4,612 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Powell Industries by 31.6% in the first quarter. HighTower Advisors LLC now owns 10,000 shares of the industrial products company’s stock worth $194,000 after buying an additional 2,400 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Powell Industries by 13.6% in the first quarter. Citigroup Inc. now owns 9,049 shares of the industrial products company’s stock worth $176,000 after buying an additional 1,081 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Powell Industries by 17.5% in the first quarter. Sei Investments Co. now owns 12,100 shares of the industrial products company’s stock worth $235,000 after buying an additional 1,800 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 625,805 shares of the industrial products company’s stock worth $12,153,000 after buying an additional 30,476 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at $108,168,364.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at $108,168,364.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the completion of the sale, the insider now directly owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $4,850,830 over the last ninety days. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Powell Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st.

Get Our Latest Stock Report on POWL

Powell Industries Trading Down 0.3 %

POWL stock opened at $134.68 on Thursday. The company’s 50 day moving average is $144.54 and its 200 day moving average is $104.49. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.79. Powell Industries, Inc. has a 1-year low of $38.87 and a 1-year high of $197.87.

Powell Industries (NASDAQ:POWLGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.98. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $182.04 million. Powell Industries had a net margin of 10.10% and a return on equity of 22.30%. Powell Industries’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 7.54 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.262 per share. This represents a $1.05 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, February 13th. Powell Industries’s payout ratio is currently 16.64%.

Powell Industries Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding POWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Powell Industries, Inc. (NASDAQ:POWLFree Report).

Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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