Powell Industries (NASDAQ:POWL) Major Shareholder Sells $10,000,291.42 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 33,958 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Powell Industries Price Performance

POWL stock opened at $279.77 on Monday. The firm has a market capitalization of $10.19 billion, a PE ratio of 54.75, a P/E/G ratio of 3.65 and a beta of 1.11. Powell Industries, Inc. has a twelve month low of $67.44 and a twelve month high of $328.00. The stock’s 50 day moving average is $283.11 and its 200-day moving average is $202.69.

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

Powell Industries Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on POWL shares. Cantor Fitzgerald raised their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Glj Research initiated coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $150.00 price objective for the company. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Powell Industries has an average rating of “Moderate Buy” and a consensus price target of $236.67.

Institutional Trading of Powell Industries

Several hedge funds have recently added to or reduced their stakes in POWL. Greenline Wealth Management LLC bought a new position in shares of Powell Industries during the 4th quarter valued at approximately $29,000. Avanza Fonder AB bought a new position in Powell Industries during the fourth quarter valued at $30,000. Hollencrest Capital Management bought a new position in Powell Industries during the first quarter valued at $54,000. Steward Partners Investment Advisory LLC increased its position in 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 worth $36,000 after buying an additional 63 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Powell Industries in the fourth quarter worth $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.