Powell Industries (NASDAQ:POWL) Major Shareholder Thomas Powell Sells 49,778 Shares

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 49,778 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $502.23, for a total transaction of $25,000,004.94. Following the completion of the transaction, the insider directly owned 598,694 shares of the company’s stock, valued at approximately $300,682,087.62. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Powell Industries Trading Up 5.2%

POWL traded up $26.59 during trading hours on Monday, hitting $542.59. The company’s stock had a trading volume of 219,083 shares, compared to its average volume of 276,879. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 2.31 and a beta of 0.82. The business’s 50-day moving average price is $499.30 and its 200-day moving average price is $388.50. Powell Industries, Inc. has a 12 month low of $152.89 and a 12 month high of $612.50.

Powell Industries’s stock is set to split on Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Sunday, April 5th.

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

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s payout ratio is 7.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Cantor Fitzgerald lifted their target price on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Glj Research assumed coverage on Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $450.00 target price on the stock. Finally, Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $427.00.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC lifted its position in shares of Powell Industries by 42.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after purchasing an additional 686,588 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 during the last quarter. Vanguard Group Inc. increased its stake in Powell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock worth $225,263,000 after buying an additional 6,419 shares during the period. First Trust Advisors LP lifted its holdings in Powell Industries by 65.8% during the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after buying an additional 244,051 shares in the last quarter. Finally, State Street Corp lifted its holdings in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after buying an additional 3,159 shares in the last quarter. Hedge funds and other 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.