Powell Industries, Inc. (NASDAQ:POWL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 76.7% in the third quarter, according to its most recent filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd.

Powell Industries Stock Performance

POWL stock traded up $24.35 during midday trading on Friday, reaching $279.33. The company's stock had a trading volume of 587,216 shares, compared to its average volume of 368,012. The stock has a fifty day simple moving average of $217.07 and a two-hundred day simple moving average of $178.53. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.46 and a beta of 0.88. Powell Industries, Inc. has a 1 year low of $75.05 and a 1 year high of $284.45.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The company had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. During the same period last year, the business posted $1.52 EPS. Powell Industries's quarterly revenue was up 49.8% on a year-over-year basis. As a group, analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries 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 sale, the insider now directly owns 1,628,328 shares in the company, valued at $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The stock was 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 in the company, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 2,451 shares of the company's stock in a transaction 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 sale, the insider now owns 1,628,328 shares of the company's stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,350 shares of company stock valued at $14,774,341. 2.20% of the stock is currently owned by corporate insiders.

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.