Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Sells $2,461,400.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the sale, the insider now directly owns 1,658,328 shares in the company, valued at $408,180,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large 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 traded up $2.84 during mid-day trading on Wednesday, reaching $255.01. 543,659 shares of the stock were exchanged, compared to its average volume of 368,936. The business’s 50 day moving average is $182.41 and its 200-day moving average is $162.94. Powell Industries, Inc. has a 1 year low of $72.51 and a 1 year high of $260.55. The company has a market capitalization of $3.06 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.33 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. During the same period last year, the firm posted $1.52 earnings per share. The company’s revenue was up 49.8% compared to the same quarter last year. Equities analysts predict that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were given a $0.265 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.42%. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Friday, October 4th.

Institutional Trading of Powell Industries

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. UMB Bank n.a. grew its position in shares of Powell Industries by 155.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 191 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries in the second quarter valued at about $47,000. Quarry LP acquired a new stake in shares of Powell Industries in the second quarter valued at about $48,000. Finally, Plato Investment Management Ltd acquired a new position in Powell Industries during the first quarter worth about $50,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.