Insider Selling: Powell Industries (NASDAQ:POWL) Major Shareholder Sells 10,285 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 10,285 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $592.56, for a total value of $6,094,479.60. Following the completion of the sale, the insider owned 666,980 shares of the company’s stock, valued at approximately $395,225,668.80. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Stock Performance

NASDAQ POWL traded down $7.83 during trading hours on Friday, reaching $585.07. The stock had a trading volume of 171,706 shares, compared to its average volume of 322,060. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $612.50. The stock has a market cap of $7.10 billion, a P/E ratio of 38.02, a price-to-earnings-growth ratio of 2.69 and a beta of 0.85. The stock has a fifty day moving average of $401.44 and a 200 day moving average of $336.47.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same quarter in the prior year, the business posted $2.86 earnings per share. Powell Industries’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.2%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s payout ratio is 6.95%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on POWL shares. Roth Mkm reiterated a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Cantor Fitzgerald upped their price objective on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. Alps Advisors Inc. lifted its holdings in shares of Powell Industries by 1.1% in the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares during the period. CWM LLC lifted its holdings in Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 24 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Powell Industries by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 25 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Powell Industries by 2.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 29 shares during the period. Finally, State of Wyoming raised its stake in shares of Powell Industries by 18.5% during the 3rd quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock worth $57,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.