Powell Industries (NASDAQ:POWL) Insider Ping Ni Sells 700 Shares of Company Stock

Powell Industries, Inc. (NASDAQ:POWL) insider Ping Ni sold 700 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $167.14, for a total value of $116,998.00. Following the completion of the sale, the insider directly owned 5,339 shares in the company, valued at $892,360.46. This trade represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Powell Industries Trading Down 0.5%

NASDAQ POWL opened at $164.94 on Wednesday. Powell Industries, Inc. has a 12 month low of $92.59 and a 12 month high of $328.00. The stock has a market cap of $6.01 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.72 and a beta of 1.17. The stock’s fifty day moving average price is $186.71 and its 200-day moving average price is $232.30.

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). The company had revenue of $311.74 million for the quarter, compared to the consensus estimate of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. As a group, analysts forecast that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Powell Industries’s dividend payout ratio is 6.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on POWL. Weiss Ratings lowered shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $235.00 target price on shares of Powell Industries in a research note on Thursday, October 1st. Glj Research upgraded shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.92.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Powell Industries in the second quarter worth approximately $1,033,376,000. Jupiter Topco LLC purchased a new position in shares of Powell Industries during the second quarter valued at approximately $93,845,000. Tidal Investments LLC raised its holdings in shares of Powell Industries by 222.3% during the second quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock valued at $80,892,000 after purchasing an additional 194,840 shares during the last quarter. Tema ETFs LLC raised its holdings in shares of Powell Industries by 217.3% during the second quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock valued at $76,943,000 after purchasing an additional 184,010 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Powell Industries by 55.1% during the first quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company’s stock valued at $121,643,000 after purchasing an additional 79,932 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.

Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.