Insider Selling: 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 business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the sale, the insider now directly owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $262.97 on Friday. Powell Industries, Inc. has a 52 week low of $72.51 and a 52 week high of $263.50. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 1.46 and a beta of 0.88. The firm has a fifty day moving average of $187.74 and a two-hundred day moving average of $164.98.

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

Powell Industries Announces Dividend

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

Institutional Investors Weigh In On Powell Industries

Several large investors have recently bought and sold shares of POWL. Virtu Financial LLC bought a new stake in shares of Powell Industries in the 4th quarter valued at $214,000. Range Financial Group LLC raised its position in shares of Powell Industries by 18.0% during the first quarter. Range Financial Group LLC now owns 14,102 shares of the industrial products company’s stock worth $2,007,000 after purchasing an additional 2,155 shares during the period. Ausbil Investment Management Ltd acquired a new stake in shares of Powell Industries during the first quarter worth about $631,000. Guidance Capital Inc. bought a new position in shares of Powell Industries during the 1st quarter valued at about $674,000. Finally, Diversified Trust Co acquired a new position in shares of Powell Industries in the 1st quarter valued at approximately $212,000. Institutional investors own 89.77% of the company’s stock.

Analysts Set New Price Targets

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

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.