Powell Industries (NASDAQ:POWL) Shares Set to Split on Monday, April 6th

Powell Industries, Inc. (NASDAQ:POWL) shares are going to split before the market opens on Monday, April 6th. The 3-1 split was announced on Friday, March 6th. The newly created shares will be issued to shareholders after the market closes on Friday, April 3rd.

Powell Industries Trading Up 2.4%

Shares of NASDAQ POWL opened at $554.05 on Thursday. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. Powell Industries has a twelve month low of $152.89 and a twelve month high of $612.50. The business has a 50 day simple moving average of $520.60 and a 200-day simple moving average of $402.58.

Powell Industries (NASDAQ:POWL) last posted its quarterly 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. The business had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.86 EPS. As a group, equities analysts predict that Powell Industries will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.27 per share. 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. The ex-dividend date of this dividend was Wednesday, February 18th. Powell Industries’s dividend payout ratio is currently 7.02%.

Wall Street Analyst Weigh In

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

Insider Activity at Powell Industries

In other news, insider Ping Ni sold 70 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total value of $41,300.00. Following the completion of the transaction, the insider directly owned 2,023 shares in the company, valued at $1,193,570. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Alan Cope sold 1,480 shares of the firm’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 transaction of $747,104.00. Following the transaction, the chief executive officer owned 169,291 shares in the company, valued at $85,458,096.80. This represents a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 78,416 shares of company stock worth $41,912,270 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake 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 buying an additional 461 shares in the last quarter. NewEdge Advisors LLC boosted its stake in 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 in the last quarter. Jones Financial Companies Lllp boosted its stake in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Powell Industries by 4.8% during 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 valued at $4,841,000 after buying an additional 1,311 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Powell Industries by 1.3% during the second quarter. Cetera Investment Advisers now owns 5,000 shares of the industrial products company’s stock worth $1,052,000 after acquiring an additional 63 shares during the period. 89.77% of the stock is owned by institutional investors.

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.