Powell Industries (NASDAQ:POWL) Stock Scheduled to Split on Monday, April 6th

Shares of Powell Industries, Inc. (NASDAQ:POWL) are set to split on Monday, April 6th. The 3-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Sunday, April 5th.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $516.00 on Friday. The firm has a market capitalization of $6.26 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Powell Industries has a 52-week low of $152.89 and a 52-week high of $612.50. The firm has a fifty day moving average of $499.30 and a 200 day moving average of $386.72.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $2.86 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Powell Industries will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Treasurer David L. Eckenrode sold 295 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer directly owned 443 shares of the company’s stock, valued at approximately $252,510. The trade was a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Alan Cope sold 1,480 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $504.80, for a total value of $747,104.00. Following the transaction, the chief executive officer directly owned 169,291 shares in the company, valued at $85,458,096.80. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,638 shares of company stock valued at $16,912,266 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Powell Industries by 1.5% in the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after purchasing an additional 461 shares during the period. NewEdge Advisors LLC increased its position in shares of Powell Industries by 7.9% during the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after buying an additional 461 shares during the period. Jones Financial Companies Lllp increased its position in shares of Powell Industries by 1,221.0% during the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after buying an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after buying an additional 1,311 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Powell Industries by 2.5% in the second quarter. Geode Capital Management LLC now owns 237,715 shares of the industrial products company’s stock worth $50,033,000 after buying an additional 5,725 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

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.