Powell Industries (NASDAQ:POWL) Reaches New 12-Month High at $226.00

Powell Industries, Inc. (NASDAQ:POWL)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $226.00 and last traded at $219.39, with a volume of 83916 shares. The stock had previously closed at $219.09.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th.

Powell Industries Stock Up 0.9 %

The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 1.30 and a beta of 0.87. The business’s 50-day moving average is $168.46 and its 200-day moving average is $158.66.

Powell Industries (NASDAQ:POWL) last issued its 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 firm had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,100 shares of company stock worth $7,563,552. 2.20% of the stock is owned by company insiders.

Institutional Trading of Powell Industries

Hedge funds have recently bought and sold shares of the business. Transform Wealth LLC increased its holdings in shares of Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after buying an additional 1,667,728 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Powell Industries in the 2nd quarter valued at $11,658,000. Envestnet Asset Management Inc. purchased a new position in shares of Powell Industries during the 2nd quarter worth $6,713,000. American Century Companies Inc. increased its position in shares of Powell Industries by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Powell Industries by 471.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock valued at $4,448,000 after buying an additional 25,789 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Company Profile

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.