Insider Selling: Powell Industries (NASDAQ:POWL) Major Shareholder Sells 14,911 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 14,911 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $600.92, for a total value of $8,960,318.12. Following the completion of the sale, the insider directly owned 652,069 shares in the company, valued at approximately $391,841,303.48. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Powell Industries Trading Down 1.3%

POWL stock traded down $7.83 during midday trading on Friday, hitting $585.07. The company’s stock had a trading volume of 171,706 shares, compared to its average volume of 322,060. The firm’s 50-day moving average is $401.44 and its 200-day moving average is $336.47. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $612.50. The company has a market cap of $7.10 billion, a PE ratio of 38.02, a P/E/G ratio of 2.69 and a beta of 0.85.

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

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $1.08 annualized dividend 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 dividend payout ratio (DPR) is currently 6.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on POWL shares. Roth Mkm reissued a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Cantor Fitzgerald boosted their target price on shares of Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Powell Industries currently has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Institutional Trading of Powell Industries

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC grew its position in shares of Powell Industries by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 461 shares during the period. Jones Financial Companies Lllp raised its holdings in Powell Industries by 1,221.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 1,282 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Powell Industries by 4.8% in the 1st 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 purchasing an additional 1,311 shares during the period. Finally, KLP Kapitalforvaltning AS increased its position in shares of Powell Industries by 16.7% in the second quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.