Thomas Powell Sells 1,159 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 1,159 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $561.44, for a total transaction of $650,708.96. Following the sale, the insider owned 650,790 shares of the company’s stock, valued at $365,379,537.60. This trade represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Trading Down 3.3%

Shares of Powell Industries stock traded down $18.12 on Thursday, reaching $530.88. 271,878 shares of the stock were exchanged, compared to its average volume of 301,506. The firm has a market capitalization of $6.45 billion, a PE ratio of 34.50, a PEG ratio of 2.54 and a beta of 0.85. Powell Industries, Inc. has a 1-year low of $146.02 and a 1-year high of $612.50. The business has a fifty day moving average price of $440.29 and a two-hundred day moving average price of $357.48.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $255.34 million. During the same quarter last year, the company earned $2.86 earnings per share. Powell Industries’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

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

Hedge Funds Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC lifted its position in shares of Powell Industries by 42.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after purchasing an additional 686,588 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after buying an additional 775,097 shares during the period. Vanguard Group Inc. lifted its holdings in Powell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock worth $225,263,000 after buying an additional 6,419 shares in the last quarter. First Trust Advisors LP boosted its position in Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after buying an additional 244,051 shares during the last quarter. Finally, State Street Corp boosted its position in Powell Industries by 0.9% in the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after buying an additional 3,159 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

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

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.