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

Powell Industries, Inc. (NASDAQ:POWL)’s stock is going to split before the market opens on Monday, April 6th. The 3-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Sunday, April 5th.

Powell Industries Stock Performance

Shares of POWL stock opened at $554.05 on Thursday. The firm has a market cap of $6.73 billion, a P/E ratio of 36.00, a P/E/G ratio of 2.35 and a beta of 0.81. The firm’s 50 day moving average price is $520.60 and its 200-day moving average price is $402.58. Powell Industries has a one year low of $152.89 and a one year high of $612.50.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The firm had revenue of $251.18 million during 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $2.86 EPS. As a group, research analysts predict that Powell Industries will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.27 per share. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is 7.02%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on POWL. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Cantor Fitzgerald lifted their target price on Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Glj Research initiated coverage on shares of Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $450.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.00.

Insider Activity

In related news, Treasurer David L. Eckenrode sold 295 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the completion of the transaction, the treasurer owned 443 shares in the company, valued at approximately $252,510. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 49,778 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $502.23, for a total value of $25,000,004.94. Following the completion of the transaction, the insider directly owned 598,694 shares in the company, valued at $300,682,087.62. This trade represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 78,416 shares of company stock worth $41,912,270 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries during the 4th quarter worth about $29,000. Avanza Fonder AB acquired a new position in Powell Industries in the fourth quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC purchased a new position in Powell Industries in the second quarter valued at approximately $33,000. State of Wyoming purchased a new position in Powell Industries in the second quarter valued at approximately $33,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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.