Nordea Investment Management AB lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL – Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,170 shares of the industrial products company’s stock after acquiring an additional 188 shares during the period. Nordea Investment Management AB’s holdings in Powell Industries were worth $1,389,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in POWL. Victory Capital Management Inc. lifted its stake in shares of Powell Industries by 53.9% during the 2nd quarter. Victory Capital Management Inc. now owns 8,086 shares of the industrial products company’s stock valued at $1,160,000 after buying an additional 2,833 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Powell Industries by 8.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 8,717 shares of the industrial products company’s stock valued at $1,250,000 after purchasing an additional 652 shares during the last quarter. American Century Companies Inc. grew its holdings in Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in Powell Industries during the 2nd quarter valued at about $302,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Powell Industries in the 2nd quarter valued at about $6,713,000. Institutional investors own 89.77% of the company’s stock.
Powell Industries Price Performance
NASDAQ:POWL opened at $231.16 on Monday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 18.81, a PEG ratio of 1.31 and a beta of 0.88. Powell Industries, Inc. has a 1-year low of $76.29 and a 1-year high of $364.98. The company’s fifty day moving average price is $267.17 and its 200-day moving average price is $215.40.
Powell Industries Dividend Announcement
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company. StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.
Read Our Latest Research Report on POWL
Insider Buying and Selling
In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.
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.
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