Powell Industries (NASDAQ:POWL) Reaches New 1-Year High – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL) hit a new 52-week high on Monday . The company traded as high as $265.00 and last traded at $264.57, with a volume of 32181 shares. The stock had previously closed at $262.97.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Down 0.7 %

The business’s fifty day moving average is $192.05 and its 200 day moving average is $167.07. The company has a market cap of $3.17 billion, a P/E ratio of 31.42, a PEG ratio of 1.46 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $222.18 million. During the same quarter in the previous year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, research analysts expect that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

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

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Thomas W. Powell sold 2,451 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the insider now owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,350 shares of company stock valued at $14,774,341. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

A number of institutional investors have recently modified their holdings of POWL. Transform Wealth LLC boosted its holdings in shares of Powell Industries by 25,920.5% during the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Powell Industries during the second quarter valued at approximately $11,658,000. Envestnet Asset Management Inc. purchased a new stake in shares of Powell Industries during the second quarter valued at approximately $6,713,000. American Century Companies Inc. boosted its holdings in Powell Industries by 15.0% in the second 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 boosted its holdings in Powell Industries by 471.5% in 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 purchasing an additional 25,789 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.