Thomas Powell Sells 1,159 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 1,159 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $561.44, for a total transaction of $650,708.96. Following the completion of the transaction, the insider owned 650,790 shares in the company, valued at $365,379,537.60. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Price Performance

Powell Industries stock opened at $523.60 on Friday. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $612.50. The firm has a fifty day moving average price of $448.15 and a two-hundred day moving average price of $360.48. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 2.41 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $255.34 million. During the same period last year, the business posted $2.86 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be given a $0.27 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is currently 7.02%.

Institutional Trading of Powell Industries

Several institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after purchasing an additional 775,097 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Powell Industries by 42.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after purchasing an additional 686,588 shares during the period. First Trust Advisors LP raised its holdings in shares of Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after buying an additional 244,051 shares in the last quarter. Voss Capital LP bought a new position in shares of Powell Industries during the 2nd quarter worth approximately $38,904,000. Finally, Summit Partners Public Asset Management LLC acquired a new stake in Powell Industries in the 3rd quarter valued at $43,515,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

POWL has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Cantor Fitzgerald upped their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Roth Mkm restated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Powell Industries has a consensus rating of “Moderate Buy” and an average price target of $415.50.

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.