Powell Industries (NASDAQ:POWL) EVP Michael William Metcalf Sells 3,000 Shares

Powell Industries, Inc. (NASDAQ:POWL) EVP Michael William Metcalf sold 3,000 shares of Powell Industries stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $528.00, for a total value of $1,584,000.00. Following the sale, the executive vice president owned 27,800 shares in the company, valued at $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Powell Industries Stock Performance

POWL opened at $547.81 on Friday. The firm has a market cap of $6.65 billion, a P/E ratio of 35.60, a PEG ratio of 2.41 and a beta of 0.81. The firm has a 50-day moving average of $523.02 and a 200 day moving average of $403.59. Powell Industries, Inc. has a fifty-two week low of $152.89 and a fifty-two week high of $612.50.

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

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. During the same period in the prior year, the firm earned $2.86 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 18th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is presently 7.02%.

Institutional Trading of Powell Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after buying an additional 775,097 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Powell Industries by 42.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after acquiring an additional 686,588 shares in the last quarter. First Trust Advisors LP lifted its stake in Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after purchasing an additional 244,051 shares in the last quarter. Voss Capital LP purchased a new position in shares of Powell Industries during the 2nd quarter valued at $38,904,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in shares of Powell Industries in the third quarter worth $43,515,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on POWL shares. Glj Research assumed coverage on Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $450.00 price target for the company. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Powell Industries has a consensus rating of “Moderate Buy” and a consensus target price of $427.00.

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.