Insider Selling: Powell Industries, Inc. (NASDAQ:POWL) Major Shareholder Sells $4,498,335.17 in Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas W. Powell sold 17,549 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the completion of the transaction, the insider now directly owns 1,630,779 shares in the company, valued at $418,017,581.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Trading Up 6.5 %

POWL opened at $262.97 on Monday. The company’s 50 day moving average is $187.74 and its 200-day moving average is $165.33. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $263.50. The company has a market cap of $3.15 billion, a P/E ratio of 31.23, a PEG ratio of 1.46 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data 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 company had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. Powell Industries’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 EPS. On average, equities analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.40%. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Powell Industries in the 4th quarter worth $214,000. Range Financial Group LLC grew its stake in shares of Powell Industries by 18.0% in the 1st quarter. Range Financial Group LLC now owns 14,102 shares of the industrial products company’s stock worth $2,007,000 after acquiring an additional 2,155 shares in the last quarter. Ausbil Investment Management Ltd bought a new stake in shares of Powell Industries in the 1st quarter worth $631,000. Guidance Capital Inc. bought a new stake in shares of Powell Industries in the 1st quarter worth $674,000. Finally, Diversified Trust Co bought a new stake in shares of Powell Industries in the 1st quarter worth $212,000. Institutional investors own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

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.