Powell Industries (NASDAQ:POWL) Director Richard Williams Sells 5,250 Shares

Powell Industries, Inc. (NASDAQ:POWL) Director Richard Williams sold 5,250 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the completion of the sale, the director owned 39,630 shares in the company, valued at approximately $11,856,899.70. This trade represents a 11.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Powell Industries Stock Performance

Shares of Powell Industries stock traded down $4.33 during trading on Friday, reaching $292.65. The company had a trading volume of 1,257,970 shares, compared to its average volume of 778,241. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. The firm’s fifty day moving average is $220.09 and its 200-day moving average is $164.70. Powell Industries, Inc. has a fifty-two week low of $54.75 and a fifty-two week high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The company had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.81 EPS. On average, research analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries’s dividend payout ratio is 7.05%.

Institutional Investors Weigh In On Powell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC increased its stake in shares of Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after purchasing an additional 686,588 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares during the period. Vanguard Group Inc. increased its stake in shares of Powell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after purchasing an additional 6,419 shares during the period. First Trust Advisors LP increased its stake in shares of Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after purchasing an additional 244,051 shares during the period. Finally, State Street Corp increased its stake in shares of Powell Industries by 0.9% in the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after purchasing an additional 3,159 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Glj Research assumed coverage on shares of Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.67.

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.