Key Points
- EVP Michael William Metcalf sold 3,000 shares at an average price of $528 on March 31 for $1.584M, reducing his direct stake by about 9.74% to 27,800 shares; the trade was made under a pre-arranged Rule 10b5-1 plan and was disclosed in an SEC filing.
- Powell is set to execute a 3-for-1 stock split with new shares payable after the market close on April 5 and the split effective April 6.
- Recent fundamentals show a quarterly EPS beat of $3.40 vs. $2.85 expected (revenue slightly below estimates), with a net margin of 16.82% and a return on equity of 30.64%, while institutional investors own roughly 89.8% of the company.
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) EVP Michael William Metcalf sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $528.00, for a total transaction of $1,584,000.00. Following the completion of the sale, the executive vice president directly owned 27,800 shares in the company, valued at $14,678,400. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Powell Industries Price Performance
Shares of Powell Industries stock opened at $547.81 on Friday. Powell Industries, Inc. has a 1 year low of $152.89 and a 1 year high of $612.50. The firm has a market cap of $6.65 billion, a PE ratio of 35.60, a PEG ratio of 2.41 and a beta of 0.81. The company has a 50 day simple moving average of $523.02 and a two-hundred day simple moving average of $403.59.
Powell Industries's stock is set to split on Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Sunday, April 5th.
Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.55. The firm had revenue of $251.18 million for 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 business'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 anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.
Powell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was 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 currently 7.02%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on POWL. Cantor Fitzgerald raised their price objective on Powell Industries from $427.00 to $481.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Texas Capital raised shares of Powell Industries to a "strong-buy" rating in a research note on Friday, March 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Powell Industries in a research note on Monday, December 29th. Wall Street Zen lowered shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Glj Research began coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a "hold" rating and a $450.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Powell Industries presently has an average rating of "Moderate Buy" and an average target price of $427.00.
Read Our Latest Stock Report on POWL
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $247,106,000 after buying an additional 775,097 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Powell Industries by 42.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company's stock valued at $705,475,000 after acquiring an additional 686,588 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Powell Industries by 65.8% during 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 acquiring an additional 244,051 shares during the last quarter. Voss Capital LP purchased a new stake in shares of Powell Industries during the second quarter worth about $38,904,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in shares of Powell Industries during the third quarter worth about $43,515,000. Institutional investors own 89.77% of the company's stock.
About Powell Industries
(
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.
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