Powell Industries (NASDAQ:POWL) Major Shareholder Thomas Powell Sells 33,958 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Powell Industries Stock Down 9.5%

Shares of Powell Industries stock opened at $279.77 on Friday. Powell Industries, Inc. has a 12-month low of $67.44 and a 12-month high of $328.00. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 54.75, a PEG ratio of 4.04 and a beta of 1.11. The firm’s 50-day moving average price is $283.11 and its two-hundred day moving average price is $202.08.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the previous year, the firm posted $3.81 earnings per share. Powell Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s payout ratio is currently 7.05%.

Wall Street Analyst Weigh In

POWL has been the topic of a number of research analyst reports. Glj Research initiated coverage on Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price on the stock. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.67.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of POWL. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries during the 4th quarter valued at $29,000. Avanza Fonder AB bought a new stake in shares of Powell Industries during the fourth quarter worth about $30,000. State of Wyoming bought a new stake in shares of Powell Industries during the second quarter worth about $33,000. Steward Partners Investment Advisory LLC increased its stake in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after buying an additional 63 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Powell Industries in the fourth quarter valued at approximately $40,000. Institutional investors own 89.77% of the company’s stock.

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.