Key Points
- Insider sale: Ping Ni sold 700 Powell Industries shares for approximately $117,000, reducing their direct ownership by 11.59% to 5,339 shares.
- Quarterly performance: Powell reported $1.42 in quarterly EPS and $311.74 million in revenue, missing analyst estimates for both, although revenue increased 8.9% year over year.
- Market outlook: The stock opened at $164.94, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $187.92. Institutional investors own approximately 89.77% of the shares.
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) insider Ping Ni sold 700 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $167.14, for a total value of $116,998.00. Following the transaction, the insider directly owned 5,339 shares in the company, valued at $892,360.46. The trade was a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Powell Industries Price Performance
POWL stock opened at $164.94 on Wednesday. The company has a market cap of $6.01 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. Powell Industries, Inc. has a 1 year low of $92.59 and a 1 year high of $328.00. The stock's fifty day moving average price is $186.71 and its 200-day moving average price is $232.30.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%. The firm had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same period in the previous year, the firm earned $3.96 EPS. The business's revenue was up 8.9% on a year-over-year basis. As a group, analysts expect that Powell Industries, Inc. will post 5.36 earnings per share for the current year.
Powell Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Powell Industries's payout ratio is currently 6.91%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in POWL. BlackRock Inc. purchased a new stake in Powell Industries in the 2nd quarter worth approximately $1,033,376,000. Jupiter Topco LLC bought a new stake in Powell Industries during the 2nd quarter worth approximately $93,845,000. Tidal Investments LLC raised its stake in Powell Industries by 222.3% during the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company's stock worth $80,892,000 after acquiring an additional 194,840 shares during the period. Tema ETFs LLC lifted its holdings in Powell Industries by 217.3% during the second quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company's stock valued at $76,943,000 after purchasing an additional 184,010 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Powell Industries by 55.1% during 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 purchasing an additional 79,932 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $235.00 price target on shares of Powell Industries in a research report on Thursday, October 1st. Glj Research raised shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price objective on shares of Powell Industries from $300.00 to $250.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Finally, Weiss Ratings lowered shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $187.92.
Get Our Latest Analysis on POWL
Powell Industries Company Profile
(
Get Free Report)
Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.
Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.
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