Thomas W. Powell Sells 2,451 Shares of Powell Industries, Inc. (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries 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 owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Stock Performance

NASDAQ:POWL traded down $1.93 on Tuesday, reaching $264.55. The company’s stock had a trading volume of 320,259 shares, compared to its average volume of 368,830. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $268.52. The firm has a market cap of $3.17 billion, a PE ratio of 31.65, a PEG ratio of 1.46 and a beta of 0.88. The business’s 50-day moving average price is $190.03 and its two-hundred day moving average price is $166.21.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $2.16 by $1.63. The company had revenue of $288.17 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. As a group, sell-side analysts expect 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 issued a dividend of $0.265 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.40%. Powell Industries’s payout ratio is presently 12.59%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Powell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Powell Industries in the second quarter valued at approximately $1,403,000. Quadrature Capital Ltd acquired a new position in Powell Industries during the 1st quarter worth about $1,927,000. Commonwealth Equity Services LLC acquired a new position in Powell Industries during the 1st quarter worth about $1,628,000. FORA Capital LLC acquired a new position in Powell Industries during the 1st quarter worth about $1,000,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Powell Industries by 471.5% during the 1st 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 during the period. Institutional investors 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.