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 Powell Industries stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $502.23, for a total value of $25,000,004.94. Following the completion of the sale, the insider owned 598,694 shares of the company’s stock, valued at $300,682,087.62. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $542.59 on Tuesday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.31 and a beta of 0.82. The firm’s 50-day moving average is $502.42 and its two-hundred day moving average is $390.41. Powell Industries, Inc. has a 1 year low of $152.89 and a 1 year high of $612.50.

Shares of Powell Industries are going to split on Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Sunday, April 5th.

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

Powell Industries Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Greenline Wealth Management LLC purchased a new stake in Powell Industries in the fourth quarter valued at $29,000. Avanza Fonder AB purchased a new position in shares of Powell Industries during the 4th quarter valued at about $30,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Powell Industries during the 2nd quarter valued at about $33,000. State of Wyoming acquired a new position in shares of Powell Industries in the 2nd quarter valued at about $33,000. Finally, Steward Partners Investment Advisory LLC lifted 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 valued at $36,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.