Nordea Investment Management AB Increases Position in Powell Industries, Inc. (NASDAQ:POWL)

Nordea Investment Management AB lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,170 shares of the industrial products company’s stock after buying an additional 188 shares during the period. Nordea Investment Management AB owned approximately 0.05% of Powell Industries worth $1,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in Powell Industries during the third quarter valued at about $30,000. Quest Partners LLC purchased a new stake in Powell Industries during the third quarter valued at about $35,000. Farther Finance Advisors LLC boosted its position in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares during the period. Quarry LP purchased a new stake in Powell Industries during the second quarter valued at about $48,000. Finally, Covestor Ltd boosted its position in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other Powell Industries 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 transaction of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on POWL shares. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. Finally, StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 6th.

Powell Industries Price Performance

Shares of POWL opened at $231.16 on Monday. Powell Industries, Inc. has a one year low of $76.29 and a one year high of $364.98. The company has a 50-day simple moving average of $267.17 and a two-hundred day simple moving average of $215.40. The firm has a market capitalization of $2.79 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio is 8.62%.

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.