SG Americas Securities LLC Cuts Stake in Powell Industries, Inc. (NASDAQ:POWL)

SG Americas Securities LLC cut its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 63.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,802 shares of the industrial products company’s stock after selling 3,124 shares during the quarter. SG Americas Securities LLC’s holdings in Powell Industries were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Powell Industries in the third quarter valued at $30,038,000. Victory Capital Management Inc. raised its position in 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 valued at $21,886,000 after purchasing an additional 90,504 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in Powell Industries in the 3rd quarter valued at about $13,606,000. Sanctuary Advisors LLC purchased a new position in shares of Powell Industries in the 3rd quarter valued at about $12,176,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Powell Industries during the third quarter worth about $10,760,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on POWL shares. StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Powell Industries Stock Up 1.4 %

POWL stock opened at $239.78 on Monday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.25 and a beta of 0.88. Powell Industries, Inc. has a fifty-two week low of $100.25 and a fifty-two week high of $364.98. The business has a 50 day moving average price of $252.15 and a 200 day moving average price of $227.59.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s 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.