Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) major shareholder Thomas Powell sold 49,778 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $300,682,087.62. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Powell Industries Trading Up 5.2%
Powell Industries stock opened at $542.59 on Tuesday. The firm has a market cap of $6.59 billion, a PE ratio of 35.26, a P/E/G ratio of 2.31 and a beta of 0.82. Powell Industries, Inc. has a 12 month low of $152.89 and a 12 month high of $612.50. The stock's 50 day simple moving average is $502.42 and its two-hundred day simple moving average is $390.41.
Shares of Powell Industries are going to split before the market opens on Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, April 5th.
Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $251.18 million during the quarter, compared to analysts' expectations of $255.34 million. During the same period in the previous year, the business posted $2.86 EPS. The business's revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 18th. Powell Industries's payout ratio is currently 7.02%.
Institutional Trading of Powell Industries
Large investors have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC lifted its stake in Powell Industries by 42.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company's stock worth $705,475,000 after purchasing an additional 686,588 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock valued at $247,106,000 after purchasing an additional 775,097 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Powell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company's stock valued at $225,263,000 after purchasing an additional 6,419 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company's stock valued at $187,479,000 after purchasing an additional 244,051 shares during the last quarter. Finally, State Street Corp lifted its position in Powell Industries by 0.9% during the second quarter. State Street Corp now owns 352,103 shares of the industrial products company's stock worth $74,100,000 after buying an additional 3,159 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the company. Glj Research initiated coverage on Powell Industries in a research report on Thursday, March 5th. They set a "hold" rating and a $450.00 target price on the stock. Cantor Fitzgerald upped their price target on Powell Industries from $427.00 to $481.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Wall Street Zen lowered Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Powell Industries in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $427.00.
Check Out Our Latest Report on Powell Industries
Powell Industries Company Profile
(
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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.
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