Key Points
- Major shareholder Thomas Powell sold 33,958 shares of Powell Industries on June 25 at an average price of $294.49, totaling about $10.0 million. After the sale, he still owned 564,736 shares, and the transaction reduced his position by 5.67%.
- Powell Industries stock fell 9.5% and opened at $279.77, after recently trading between a 52-week low of $67.44 and a high of $328.00. The company now has a market cap of about $10.19 billion.
- Recent earnings missed expectations, with quarterly EPS of $1.25 versus the $1.34 consensus, while revenue came in slightly below estimates at $296.62 million. The company also paid a quarterly dividend of $0.09 per share, equal to a 0.1% annualized yield.
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) major shareholder Thomas Powell sold 33,958 shares of the firm'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 transaction, the insider directly owned 564,736 shares of the company's stock, valued at $166,309,104.64. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Powell Industries Stock Down 9.5%
Shares of Powell Industries stock opened at $279.77 on Friday. Powell Industries, Inc. has a twelve month low of $67.44 and a twelve month high of $328.00. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 54.75, a P/E/G ratio of 4.04 and a beta of 1.11. The company's fifty day moving average is $283.11 and its 200 day moving average is $202.08.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.09). The company had revenue of $296.62 million during 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 company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.81 EPS. As a group, equities analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.
Powell Industries Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Powell Industries's dividend payout ratio is currently 7.05%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on POWL. Cantor Fitzgerald raised their price target on shares of Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Glj Research initiated coverage on shares of Powell Industries in a research report on Thursday, March 5th. They set a "hold" rating and a $150.00 price objective for the company. Wall Street Zen downgraded shares of Powell Industries from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Texas Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Powell Industries has an average rating of "Moderate Buy" and a consensus price target of $236.67.
Read Our Latest Stock Analysis on POWL
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Greenline Wealth Management LLC bought a new position in Powell Industries during the fourth quarter worth $29,000. Avanza Fonder AB acquired a new position in shares of Powell Industries during the fourth quarter valued at about $30,000. State of Wyoming acquired a new position in shares of Powell Industries during the second quarter valued at about $33,000. Steward Partners Investment Advisory LLC boosted its position in shares of Powell Industries by 126.0% during the 4th 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. Finally, First Horizon Corp bought a new position in shares of Powell Industries during the 4th quarter worth about $40,000. Institutional investors and hedge funds 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.
Further Reading
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