Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Thomas W. Powell Sells 17,549 Shares

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 17,549 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total value of $4,498,335.17. Following the completion of the transaction, the insider now directly owns 1,630,779 shares in the company, valued at $418,017,581.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Powell Industries Price Performance

NASDAQ POWL opened at $262.97 on Friday. The firm has a market cap of $3.15 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.46 and a beta of 0.88. The stock’s 50-day moving average is $187.74 and its 200-day moving average is $165.15. Powell Industries, Inc. has a one year low of $72.51 and a one year high of $263.50.

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

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Wednesday, August 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 4th.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Powell Industries during the second quarter worth about $1,403,000. Quadrature Capital Ltd bought a new position in shares of Powell Industries during the first quarter worth about $1,927,000. Commonwealth Equity Services LLC bought a new position in shares of Powell Industries during the first quarter worth about $1,628,000. FORA Capital LLC bought a new position in shares of Powell Industries during the first quarter worth about $1,000,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Powell Industries by 471.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after buying an additional 25,789 shares in the last quarter. 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.