Powell Industries (NASDAQ:POWL) Major Shareholder Thomas Powell Sells 318 Shares

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 318 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total value of $178,197.66. Following the sale, the insider owned 650,472 shares in the company, valued at $364,504,994.64. The trade was a 0.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Price Performance

POWL stock traded down $18.12 during mid-day trading on Thursday, reaching $530.88. The company had a trading volume of 271,878 shares, compared to its average volume of 301,506. The stock has a 50 day simple moving average of $440.29 and a two-hundred day simple moving average of $357.48. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.54 and a beta of 0.85. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $612.50.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The company had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.86 EPS. On average, equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current 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 $0.27 dividend. 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 yield of 0.2%. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio is 7.02%.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently bought and sold shares of the company. Greenline Wealth Management LLC bought a new position in Powell Industries in the fourth quarter valued at approximately $29,000. Avanza Fonder AB bought a new position in shares of Powell Industries in the 4th quarter valued at $30,000. Elevation Point Wealth Partners LLC bought a new position in shares of Powell Industries in the 2nd quarter valued at $33,000. State of Wyoming acquired a new stake in shares of Powell Industries during the second quarter valued at about $33,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 63 shares during the period. 89.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

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