Transform Wealth LLC Sells 45,750 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Transform Wealth LLC trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,628,009 shares of the industrial products company’s stock after selling 45,750 shares during the period. Powell Industries makes up approximately 20.0% of Transform Wealth LLC’s holdings, making the stock its largest holding. Transform Wealth LLC owned approximately 0.13% of Powell Industries worth $360,848,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after buying an additional 3,403 shares in the last quarter. Geode Capital Management LLC raised its position in Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after purchasing an additional 9,692 shares in the last quarter. Wellington Management Group LLP bought a new position in Powell Industries during the third quarter worth about $30,038,000. Victory Capital Management Inc. boosted its holdings in Powell Industries by 1,119.3% during the third 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Powell Industries by 12.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock valued at $20,833,000 after purchasing an additional 10,352 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 1.6 %

NASDAQ:POWL opened at $261.34 on Tuesday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88. Powell Industries, Inc. has a 1 year low of $76.29 and a 1 year high of $364.98. The firm has a 50 day moving average of $258.16 and a 200-day moving average of $219.77.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.41%. 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.