Allspring Global Investments Holdings LLC Has $1.26 Million Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Allspring Global Investments Holdings LLC reduced its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 76.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,661 shares of the industrial products company’s stock after selling 18,610 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Powell Industries were worth $1,257,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Transform Wealth LLC lifted its stake in shares of Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after buying an additional 1,667,728 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after purchasing an additional 17,177 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Powell Industries by 15.0% during the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares in the last quarter. Bank of New York Mellon Corp increased its position in Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Powell Industries in the second quarter worth about $11,658,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,350 shares of company stock worth $14,774,341 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd.

Powell Industries Stock Up 0.2 %

NASDAQ POWL opened at $254.98 on Friday. The firm has a 50-day moving average price of $215.34 and a two-hundred day moving average price of $177.46. Powell Industries, Inc. has a 12-month low of $74.04 and a 12-month high of $284.45. The company has a market capitalization of $3.06 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.46 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. During the same quarter last year, the firm earned $1.52 earnings per share. Powell Industries’s quarterly revenue was up 49.8% on a year-over-year basis. Equities analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current year.

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.