Powell Industries (NASDAQ:POWL) Director Richard Williams Sells 5,250 Shares

Powell Industries, Inc. (NASDAQ:POWL) Director Richard Williams sold 5,250 shares of Powell Industries stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the transaction, the director owned 39,630 shares in the company, valued at $11,856,899.70. The trade was a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Powell Industries Stock Performance

Shares of NASDAQ:POWL traded down $4.33 during midday trading on Friday, hitting $292.65. 1,257,970 shares of the company’s stock traded hands, compared to its average volume of 778,241. The company has a market cap of $10.66 billion, a PE ratio of 57.27, a P/E/G ratio of 3.93 and a beta of 1.14. The firm’s fifty day moving average price is $220.09 and its two-hundred day moving average price is $164.70. Powell Industries, Inc. has a twelve month low of $54.75 and a twelve month high of $328.00.

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

Powell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries’s payout ratio is presently 7.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Glj Research began coverage on shares of Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price objective on the stock. One equities 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. Based on data from MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Hedge Funds Weigh In On Powell Industries

Institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in Powell Industries by 42.9% in the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock worth $4,585,000 after buying an additional 4,519 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Powell Industries by 6.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock valued at $27,332,000 after purchasing an additional 5,455 shares in the last quarter. Littlejohn Financial Services Inc. acquired a new stake in shares of Powell Industries in the 3rd quarter valued at about $1,078,000. Envestnet Asset Management Inc. raised its stake in shares of Powell Industries by 17.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 96,315 shares of the industrial products company’s stock valued at $29,358,000 after purchasing an additional 14,210 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in shares of Powell Industries by 37.5% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,600 shares of the industrial products company’s stock valued at $2,012,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.