By otakuyassine3@gmail.com 
Precision Wealth Strategies LLC trimmed its stake in Powell Industries, Inc. (NASDAQ:POWL – Free Report) by 47.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,401 shares of the industrial products company’s stock after selling 1,271 shares during the period. Precision Wealth Strategies LLC’s holdings in Powell Industries were worth $311,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Cumberland Partners Ltd bought a new position in Powell Industries in the third quarter worth about $555,000. Loomis Sayles & Co. L P purchased a new position in shares of Powell Industries during the 3rd quarter worth approximately $7,225,000. Victory Capital Management Inc. raised its position in shares of Powell Industries by 1,119.3% in 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. lifted its stake in shares of Powell Industries by 34.8% in 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 purchasing an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Powell Industries by 5.7% during the third 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 own 89.77% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on POWL. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Finally, StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd.
Check Out Our Latest Analysis on POWL
Powell Industries Price Performance
POWL opened at $239.78 on Friday. The firm has a market cap of $2.89 billion, a PE ratio of 19.51, a P/E/G ratio of 1.25 and a beta of 0.88. The stock has a 50-day moving average price of $252.15 and a 200-day moving average price of $226.92. Powell Industries, Inc. has a 1 year low of $100.25 and a 1 year high of $364.98.
Powell Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were given a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.44%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.
Insider Transactions at Powell Industries
In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.
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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