Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update
by Renee Jackson · The Cerbat GemPowell Industries, Inc. (NASDAQ:POWL – Get Free Report) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 3,288,968 shares, an increase of 198.8% from the March 31st total of 1,100,766 shares. Currently, 9.2% of the company’s shares are short sold. Based on an average trading volume of 611,769 shares, the days-to-cover ratio is currently 5.4 days.
Insider Buying and Selling
In related news, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the completion of the sale, the executive vice president directly owned 83,400 shares of the company’s stock, valued at approximately $14,678,400. This represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ping Ni sold 210 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.67, for a total transaction of $41,300.00. Following the completion of the transaction, the insider directly owned 6,069 shares of the company’s stock, valued at approximately $1,193,570. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 248,688 shares of company stock valued at $44,535,053. Insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new position in shares of Powell Industries during the 4th quarter worth approximately $29,000. Avanza Fonder AB acquired a new position in shares of Powell Industries during the 4th quarter worth approximately $30,000. Steward Partners Investment Advisory LLC increased its position in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. First Horizon Corp acquired a new position in shares of Powell Industries during the 4th quarter worth approximately $40,000. Finally, Larson Financial Group LLC increased its position in shares of Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Glj Research assumed coverage on Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price on the stock. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Finally, Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $142.33.
View Our Latest Stock Report on Powell Industries
Powell Industries Stock Performance
NASDAQ POWL traded up $0.58 during trading on Friday, hitting $252.76. The stock had a trading volume of 418,907 shares, compared to its average volume of 576,188. The company has a market capitalization of $9.21 billion, a PE ratio of 49.27, a P/E/G ratio of 3.28 and a beta of 0.81. The company’s 50-day moving average price is $193.48 and its two-hundred day moving average price is $149.05. Powell Industries has a 12 month low of $54.75 and a 12 month high of $258.42.
Powell Industries (NASDAQ:POWL – Get Free Report) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.95 by $0.18. The firm had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, equities analysts anticipate that Powell Industries will post 5.48 earnings per share for the current fiscal year.
Powell Industries Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries’s payout ratio is 7.02%.
Powell Industries Company Profile
Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.
Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.