Powell Industries (NASDAQ:POWL) Treasurer David Eckenrode Sells 295 Shares

Powell Industries, Inc. (NASDAQ:POWL) Treasurer David Eckenrode sold 295 shares of Powell Industries stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer owned 443 shares of the company’s stock, valued at approximately $252,510. The trade was a 39.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Powell Industries Stock Up 0.1%

Shares of POWL traded up $0.55 during mid-day trading on Thursday, reaching $592.90. 260,223 shares of the company’s stock were exchanged, compared to its average volume of 327,197. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $612.50. The company has a 50-day simple moving average of $396.32 and a two-hundred day simple moving average of $334.68. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.59 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last announced 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 firm had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. During the same quarter in the prior year, the firm earned $2.86 EPS. Powell Industries’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio is 6.95%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 acquiring an additional 775,097 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in 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 valued at $705,475,000 after purchasing an additional 686,588 shares during the period. First Trust Advisors LP grew its holdings in shares of 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 period. Voss Capital LP acquired a new position in shares of Powell Industries in the 2nd quarter valued at approximately $38,904,000. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Powell Industries during the third quarter worth about $43,515,000. 89.77% of the stock is owned by institutional investors and hedge funds.

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.