Insider Selling: Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Sells $5,339,000.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now owns 682,265 shares in the company, valued at approximately $145,704,513.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $219.09 on Friday. The stock’s 50-day moving average is $168.46 and its 200-day moving average is $158.74. The company has a market cap of $2.63 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.30 and a beta of 0.87. Powell Industries, Inc. has a 52-week low of $72.51 and a 52-week high of $223.96.

Powell Industries (NASDAQ:POWL) last released 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 return on equity of 33.09% and a net margin of 13.77%. The firm had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same quarter last year, the firm posted $1.52 EPS. The company’s revenue was up 49.8% on a year-over-year basis. As a group, equities analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently announced 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 0.48%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is currently 12.59%.

Institutional Trading of Powell Industries

A number of hedge funds have recently bought and sold shares of the stock. Cim LLC acquired a new position in Powell Industries in the 2nd quarter valued at approximately $222,000. Dana Investment Advisors Inc. bought a new position in Powell Industries in the second quarter worth $1,460,000. Quarry LP bought a new position in Powell Industries in the second quarter worth $48,000. Invst LLC increased its holdings in Powell Industries by 55.3% in the 2nd quarter. Invst LLC now owns 4,201 shares of the industrial products company’s stock valued at $603,000 after buying an additional 1,496 shares during the period. Finally, Creative Planning bought a new stake in Powell Industries in the 2nd quarter valued at $310,000. 89.77% of the stock is owned by institutional investors.

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 Tuesday, September 24th.

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.