Powell Industries (NASDAQ:POWL) Major Shareholder Thomas Powell Sells 1,159 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 1,159 shares of Powell Industries stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $561.44, for a total transaction of $650,708.96. Following the transaction, the insider directly owned 650,790 shares in the company, valued at $365,379,537.60. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Powell Industries Price Performance

Shares of POWL stock opened at $530.88 on Friday. The firm has a 50-day moving average of $444.34 and a 200-day moving average of $358.68. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $612.50. The company has a market cap of $6.44 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.50 and a beta of 0.85.

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

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is 7.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on POWL. Roth Mkm reaffirmed a “buy” rating and set a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Cantor Fitzgerald increased 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Powell Industries currently has an average rating of “Moderate Buy” and a consensus target price of $415.50.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently made changes to their positions in the stock. Greenline Wealth Management LLC purchased a new stake in Powell Industries during the 4th quarter worth about $29,000. Avanza Fonder AB bought a new stake in shares of Powell Industries during the fourth quarter valued at about $30,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 63 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Powell Industries in the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC boosted its position in shares of Powell Industries by 12,800.0% in the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 128 shares during the period. 89.77% of the stock is currently owned by hedge funds and other 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.