Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update

Powell Industries, Inc. (NASDAQ:POWL) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,152,233 shares, a decrease of 16.1% from the February 12th total of 1,372,968 shares. Currently, 9.7% of the shares of the stock are short sold. Based on an average daily volume of 205,108 shares, the days-to-cover ratio is currently 5.6 days. Based on an average daily volume of 205,108 shares, the days-to-cover ratio is currently 5.6 days. Currently, 9.7% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, insider Ping Ni sold 70 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total value of $41,300.00. Following the completion of the sale, the insider directly owned 2,023 shares of the company’s stock, valued at $1,193,570. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 14,911 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $600.92, for a total transaction of $8,960,318.12. Following the sale, the insider owned 652,069 shares in the company, valued at $391,841,303.48. The trade was a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,638 shares of company stock valued at $17,907,456. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Several large investors have recently bought and sold shares of the business. Corient Private Wealth LLC bought a new position in Powell Industries during the fourth quarter valued at $230,000. Pacer Advisors Inc. bought a new stake in shares of Powell Industries in the 4th quarter worth about $468,000. Vision One Management Partners LP raised its position in shares of Powell Industries by 160.5% during the 4th quarter. Vision One Management Partners LP now owns 61,448 shares of the industrial products company’s stock valued at $19,588,000 after buying an additional 37,857 shares in the last quarter. Galaxy Group Investments LLC purchased a new stake in shares of Powell Industries during the 4th quarter valued at about $1,532,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Powell Industries by 52.6% in the 4th quarter. NewEdge Advisors LLC now owns 9,120 shares of the industrial products company’s stock valued at $2,907,000 after acquiring an additional 3,145 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on POWL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and set a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Glj Research started coverage on Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $450.00 target price on the stock. Cantor Fitzgerald boosted their price target on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and an average target price of $427.00.

Powell Industries Stock Down 0.1%

POWL stock traded down $0.27 during mid-day trading on Tuesday, hitting $511.55. The company had a trading volume of 38,297 shares, compared to its average volume of 275,031. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.25 and a beta of 0.82. Powell Industries has a 12-month low of $152.89 and a 12-month high of $612.50. The company has a 50-day moving average price of $486.81 and a 200 day moving average price of $381.37.

Shares of Powell Industries are set to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last announced its quarterly 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 analyst estimates of $255.34 million. During the same period in the prior year, the company earned $2.86 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Powell Industries will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend 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 7.02%.

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.