Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Thomas W. Powell Sells 10,000 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction on 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 approximately $408,180,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Industries Price Performance

Powell Industries stock opened at $255.01 on Thursday. The company has a market cap of $3.06 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.33 and a beta of 0.88. Powell Industries, Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $260.55. The firm’s 50 day simple moving average is $183.83 and its 200-day simple moving average is $163.58.

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

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were paid a $0.265 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.42%. Powell Industries’s dividend payout ratio is presently 12.59%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. GAMMA Investing LLC increased its stake in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. UMB Bank n.a. boosted its position in Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 191 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Powell Industries in the second quarter valued at about $47,000. Quarry LP acquired a new position in Powell Industries in the 2nd quarter worth about $48,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Powell Industries during the 1st quarter worth about $50,000. Hedge funds and other 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.