Powell Industries (NASDAQ:POWL) Shares Scheduled to Split on Monday, April 6th

Powell Industries, Inc. (NASDAQ:POWL)’s stock is going to split on the morning of Monday, April 6th. The 3-1 split was announced on Friday, March 6th. The newly issued shares will be distributed to shareholders after the market closes on Friday, April 3rd.

Powell Industries Trading Up 2.4%

POWL stock opened at $554.05 on Thursday. The firm has a 50-day moving average of $520.60 and a two-hundred day moving average of $402.58. Powell Industries has a 12 month low of $152.89 and a 12 month high of $612.50. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 2.35 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The business had revenue of $251.18 million for the quarter, compared to analyst estimates 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 was up 4.1% on a year-over-year basis. During the same period last year, the company posted $2.86 EPS. As a group, equities analysts forecast that Powell Industries will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on POWL. Cantor Fitzgerald upped their target price on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Glj Research began coverage on shares of Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $450.00 price target on the stock. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $427.00.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 1,480 shares of Powell Industries stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $504.80, for a total value of $747,104.00. Following the sale, the chief executive officer owned 169,291 shares in the company, valued at $85,458,096.80. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 49,778 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $502.23, for a total value of $25,000,004.94. Following the completion of the transaction, the insider directly owned 598,694 shares in the company, valued at approximately $300,682,087.62. This trade represents a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 78,416 shares of company stock valued at $41,912,270. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of POWL. Alps Advisors Inc. raised its holdings in Powell Industries by 1.1% in the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares during the period. CWM LLC boosted its stake in Powell Industries by 2.0% during the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after buying an additional 24 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Powell Industries by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock worth $219,000 after buying an additional 25 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Powell Industries by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 27 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Powell Industries by 2.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 29 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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.