Assenagon Asset Management S.A. Decreases Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Assenagon Asset Management S.A. trimmed its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 52.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,475 shares of the industrial products company's stock after selling 30,970 shares during the period. Assenagon Asset Management S.A. owned approximately 0.24% of Powell Industries worth $2,517,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of POWL. Tower Research Capital LLC TRC boosted its holdings in shares of Powell Industries by 55.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 549 shares of the industrial products company's stock worth $33,000 after buying an additional 195 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Powell Industries in the 4th quarter worth $38,000. Point72 Asset Management L.P. bought a new position in shares of Powell Industries in the 2nd quarter worth $39,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Powell Industries in the 3rd quarter worth $47,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Powell Industries in the 1st quarter worth $51,000. 89.77% of the stock is currently owned by institutional investors.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares of the company's stock, valued at approximately $108,168,364.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the sale, the insider now directly owns 1,688,628 shares of the company's stock, valued at approximately $294,462,950.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 6,000 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the sale, the insider now directly owns 714,643 shares of the company's stock, valued at $108,168,364.48. The disclosure for this sale can be found here. In the last three months, insiders sold 30,000 shares of company stock valued at $4,850,830. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut Powell Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st.

Powell Industries Trading Down 2.5 %

Shares of POWL traded down $3.30 during trading hours on Thursday, reaching $131.38. The stock had a trading volume of 267,798 shares, compared to its average volume of 336,447. Powell Industries, Inc. has a 12 month low of $38.87 and a 12 month high of $197.87. The firm has a 50-day simple moving average of $144.54 and a 200 day simple moving average of $104.49. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.28 and a beta of 0.79.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.98. The business had revenue of $194.00 million during the quarter, compared to analyst estimates of $182.04 million. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. Powell Industries's quarterly revenue was up 53.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities analysts forecast that Powell Industries, Inc. will post 7.54 EPS for the current year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were given a $0.262 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, February 13th. Powell Industries's payout ratio is currently 16.64%.

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.