Key Points
- Thomas Powell, a major shareholder, sold 1,159 shares on February 24 at an average price of $561.44 for proceeds of about $650,709, shrinking his stake by 0.18% to 650,790 shares, according to an SEC filing.
- Powell beat EPS expectations with $3.40 versus a $2.85 estimate while revenue came in at $251.2M (slightly below forecasts); the company reported strong profitability metrics (ROE 30.6%, net margin 16.8%).
- The company declared a quarterly dividend of $0.27 (annualized $1.08, yield ~0.2%, ex-dividend Feb 18), and analysts hold a “Moderate Buy” consensus with an average price target of $415.50 (Cantor Fitzgerald at $481).
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) major shareholder Thomas Powell sold 318 shares of Powell Industries stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total value of $178,197.66. Following the completion of the transaction, the insider directly owned 650,472 shares in the company, valued at approximately $364,504,994.64. This represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Powell Industries Stock Performance
NASDAQ:POWL opened at $520.38 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 33.70, a P/E/G ratio of 2.50 and a beta of 0.85. The company has a 50 day simple moving average of $444.34 and a two-hundred day simple moving average of $358.68. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $612.50.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same quarter in the previous year, the company earned $2.86 EPS. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, February 18th. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is 7.02%.
Wall Street Analyst Weigh In
Several brokerages recently commented on POWL. Roth Mkm restated a "buy" rating and set a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Wall Street Zen raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Powell Industries in a research report on Monday, December 29th. Finally, Cantor Fitzgerald increased 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. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $415.50.
Read Our Latest Research Report on Powell Industries
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Powell Industries by 1.5% in 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 buying an additional 461 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 worth $1,075,000 after acquiring an additional 461 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of 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 worth $236,000 after acquiring an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 acquiring an additional 1,311 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Powell Industries by 76.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,543 shares of the industrial products company's stock valued at $1,167,000 after purchasing an additional 2,394 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.
Powell Industries Company Profile
(
Get Free Report)
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.
Further Reading
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