Powell Industries (NASDAQ:POWL) Insider Ping Ni Sells 70 Shares

Powell Industries, Inc. (NASDAQ:POWL) insider Ping Ni sold 70 shares of Powell Industries stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total transaction of $41,300.00. Following the sale, the insider directly owned 2,023 shares in the company, valued at $1,193,570. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Powell Industries Trading Up 0.1%

NASDAQ:POWL traded up $0.55 on Thursday, hitting $592.90. The company had a trading volume of 260,223 shares, compared to its average volume of 327,197. The firm has a 50 day moving average of $396.32 and a two-hundred day moving average of $334.68. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.59 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.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $255.34 million. During the same period in the prior year, the company earned $2.86 EPS. Powell Industries’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is presently 6.95%.

Institutional Trading of Powell Industries

Several hedge funds have recently bought and sold shares of POWL. Avanza Fonder AB acquired a new position in Powell Industries during the fourth quarter worth $30,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Powell Industries during the second quarter worth about $33,000. State of Wyoming purchased a new stake in shares of Powell Industries during the 2nd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, First Horizon Corp purchased a new position in Powell Industries in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Powell Industries Company Profile

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.