Powell Industries (NASDAQ:POWL) Major Shareholder Sells $178,197.66 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 318 shares of Powell Industries stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $560.37, for a total value of $178,197.66. Following the completion of the transaction, the insider owned 650,472 shares of the company’s stock, valued at approximately $364,504,994.64. The trade was a 0.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Price Performance

Shares of POWL stock traded down $18.12 during trading hours on Thursday, hitting $530.88. 271,878 shares of the company’s stock were exchanged, compared to its average volume of 301,506. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.54 and a beta of 0.85. Powell Industries, Inc. has a 52 week low of $146.02 and a 52 week high of $612.50. The stock’s 50-day moving average is $440.29 and its 200-day moving average is $357.48.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. During the same period in the prior year, the business earned $2.86 earnings per share. Powell Industries’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC bought a new position in shares of Powell Industries during the 4th quarter valued at about $29,000. Avanza Fonder AB bought a new stake in Powell Industries in the 4th quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC acquired a new position in Powell Industries during the 2nd quarter worth approximately $33,000. State of Wyoming bought a new position in shares of Powell Industries during the 2nd quarter worth approximately $33,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Powell Industries by 126.0% during the 4th 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 in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

POWL has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Cantor Fitzgerald upped their target price 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. Roth Mkm reaffirmed a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.