Thomas Powell Sells 33,958 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 33,958 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares in the company, valued at $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Price Performance

Powell Industries stock opened at $279.77 on Friday. The firm has a market capitalization of $10.19 billion, a P/E ratio of 54.75, a PEG ratio of 3.65 and a beta of 1.11. Powell Industries, Inc. has a one year low of $67.44 and a one year high of $328.00. The business has a fifty day moving average price of $283.11 and a 200-day moving average price of $202.08.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The company had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 earnings per share. Sell-side analysts expect that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

Hedge Funds Weigh In On Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in shares of Powell Industries by 20.1% in the 1st quarter. NewEdge Advisors LLC now owns 10,951 shares of the industrial products company’s stock worth $5,925,000 after buying an additional 1,831 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in Powell Industries in the first quarter worth $205,000. Montchanin Asset Management LLC purchased a new position in Powell Industries in the first quarter worth $1,669,000. Bank of America Corp DE increased its stake in Powell Industries by 324.5% in the first quarter. Bank of America Corp DE now owns 90,797 shares of the industrial products company’s stock valued at $49,128,000 after acquiring an additional 69,407 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Powell Industries by 55.1% in the first quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company’s stock valued at $121,643,000 after acquiring an additional 79,932 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

POWL has been the topic of several recent analyst reports. Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Glj Research began coverage on shares of Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target on the stock. Cantor Fitzgerald increased their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.67.

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.