Powell Industries (NASDAQ:POWL) VP Sells 301 Shares of Company Stock

Powell Industries, Inc. (NASDAQ:POWL) VP William Marshall Mauney, Jr. sold 301 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $56,488.67. Following the completion of the transaction, the vice president directly owned 10,552 shares in the company, valued at $1,980,293.84. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Powell Industries Stock Up 2.9%

Shares of Powell Industries stock traded up $5.50 on Friday, reaching $196.10. 546,885 shares of the stock were exchanged, compared to its average volume of 722,358. Powell Industries, Inc. has a twelve month low of $92.59 and a twelve month high of $328.00. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.46 and a beta of 1.17. The business has a 50 day moving average price of $193.69 and a two-hundred day moving average price of $231.79.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same quarter last year, the company posted $3.96 EPS. Powell Industries’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 6.91%.

Wall Street Analysts Forecast Growth

POWL has been the topic of several recent research reports. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a report on Thursday. Finally, Weiss Ratings downgraded Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average target price of $215.42.

Institutional Trading of Powell Industries

A number of hedge funds have recently added to or reduced their stakes in POWL. BlackRock Inc. purchased a new stake in shares of Powell Industries during the 2nd quarter worth about $1,033,376,000. Voss Capital LP increased its stake in shares of Powell Industries by 18.6% in the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares in the last quarter. Jupiter Topco LLC acquired a new position in Powell Industries in the 2nd quarter worth about $93,845,000. Tidal Investments LLC raised its holdings in Powell Industries by 222.3% in the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock worth $80,892,000 after purchasing an additional 194,840 shares during the period. Finally, Tema ETFs LLC boosted its position in Powell Industries by 217.3% during the second quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock worth $76,943,000 after purchasing an additional 184,010 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Company Profile

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.