Insider Selling: Powell Industries (NASDAQ:POWL) Major Shareholder Sells 33,958 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 33,958 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the transaction, the insider directly owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Trading Down 9.5%

Shares of NASDAQ:POWL traded down $29.43 on Friday, hitting $279.77. 3,521,661 shares of the company were exchanged, compared to its average volume of 764,257. The firm has a market capitalization of $10.19 billion, a P/E ratio of 54.75, a price-to-earnings-growth ratio of 3.85 and a beta of 1.11. Powell Industries, Inc. has a 1-year low of $67.44 and a 1-year high of $328.00. The stock’s 50 day moving average price is $282.11 and its 200 day moving average price is $201.53.

Powell Industries (NASDAQ:POWL) last released its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). The firm had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. Powell Industries’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.81 earnings per share. On average, equities analysts predict that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio is currently 7.05%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Greenline Wealth Management LLC acquired a new position in Powell Industries in the fourth quarter valued at approximately $29,000. Avanza Fonder AB acquired a new stake in shares of Powell Industries during the 4th quarter worth approximately $30,000. State of Wyoming purchased a new position in shares of Powell Industries during the 2nd quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC increased its holdings in shares of 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 valued at $36,000 after purchasing an additional 63 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Powell Industries during the fourth quarter worth $40,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on POWL shares. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Glj Research assumed coverage on shares of Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.67.

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.