Thomas Powell Sells 10,285 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 10,285 shares of Powell Industries stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $592.56, for a total value of $6,094,479.60. Following the transaction, the insider owned 666,980 shares of the company’s stock, valued at $395,225,668.80. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Trading Down 1.3%

NASDAQ:POWL traded down $7.83 during mid-day trading on Friday, reaching $585.07. The company’s stock had a trading volume of 171,706 shares, compared to its average volume of 322,060. The stock has a market cap of $7.10 billion, a P/E ratio of 38.02, a PEG ratio of 2.69 and a beta of 0.85. The firm’s fifty day moving average price is $401.44 and its two-hundred day moving average price is $336.47. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $612.50.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.85 by $0.55. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million during the quarter, compared to analyst estimates of $255.34 million. During the same quarter in the previous year, the company posted $2.86 earnings per share. Powell Industries’s revenue was up 4.1% compared to the same quarter last year. Analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. 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 of this dividend is Wednesday, February 18th. Powell Industries’s dividend payout ratio is currently 6.95%.

Analyst Ratings Changes

POWL has been the subject of several analyst reports. Cantor Fitzgerald upped their price objective on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Institutional Investors Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp grew its position in Powell Industries by 16.7% in the 4th quarter. Stifel Financial Corp now owns 2,008 shares of the industrial products company’s stock valued at $640,000 after acquiring an additional 288 shares during the last quarter. Virtus Advisers LLC grew its holdings in Powell Industries by 135.7% during the 4th quarter. Virtus Advisers LLC now owns 2,067 shares of the industrial products company’s stock worth $659,000 after acquiring an additional 1,190 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Powell Industries by 24.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 198 shares of the industrial products company’s stock worth $65,000 after buying an additional 39 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Powell Industries in the 4th quarter valued at $29,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Powell Industries by 19.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 131,492 shares of the industrial products company’s stock valued at $41,917,000 after purchasing an additional 21,136 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.