Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Thomas W. Powell Sells 20,000 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWLGet Free Report) major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the completion of the transaction, the insider now owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Trading Down 4.7 %

Powell Industries stock opened at $171.34 on Tuesday. The firm has a 50-day moving average of $155.22 and a 200-day moving average of $128.10. The firm has a market cap of $2.05 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.42 and a beta of 0.92. Powell Industries, Inc. has a 1-year low of $56.05 and a 1-year high of $209.14.

Powell Industries (NASDAQ:POWLGet Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $201.45 million. During the same period in the prior year, the business posted $0.70 earnings per share. Powell Industries’s revenue for the quarter was up 48.8% on a year-over-year basis. Research analysts forecast that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.265 per share. This is an increase from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.62%. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Hedge Funds Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in POWL. Invst LLC increased its position in shares of Powell Industries by 48.5% during the first quarter. Invst LLC now owns 2,705 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 883 shares in the last quarter. Virtu Financial LLC increased its position in shares of Powell Industries by 198.8% during the first quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company’s stock valued at $1,031,000 after acquiring an additional 4,819 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Powell Industries during the first quarter valued at approximately $50,000. Tidal Investments LLC bought a new stake in shares of Powell Industries during the first quarter valued at approximately $1,171,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Powell Industries during the first quarter valued at approximately $1,226,000. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th.

Read Our Latest Stock Report on POWL

Powell Industries Company Profile

(Get Free Report)

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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