Powell Industries (NASDAQ:POWL) Major Shareholder Thomas Powell Sells 318 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 318 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $560.37, for a total value of $178,197.66. Following the completion of the transaction, the insider directly owned 650,472 shares of the company’s stock, valued at approximately $364,504,994.64. This trade represents a 0.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Down 2.0%

Shares of Powell Industries stock opened at $520.38 on Friday. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $612.50. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.50 and a beta of 0.85. The firm’s 50-day moving average price is $444.34 and its two-hundred day moving average price is $358.68.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating the consensus estimate of $2.85 by $0.55. The company had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.86 EPS. On average, sell-side analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s payout ratio is presently 7.02%.

Analyst Ratings Changes

A number of research firms have issued reports on POWL. Roth Mkm reiterated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Cantor Fitzgerald upped their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently added to or reduced their stakes in POWL. Royal Bank of Canada raised its stake in shares of Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp increased its holdings in Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Powell Industries by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Powell Industries by 76.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,543 shares of the industrial products company’s stock worth $1,167,000 after buying an additional 2,394 shares during the period. 89.77% of the stock is owned by institutional investors.

About Powell Industries

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.