Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update
by Tristan Rich · The Markets DailyPowell Industries, Inc. (NASDAQ:POWL – Get Free Report) was the target of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 1,152,233 shares, a decrease of 16.1% from the February 12th total of 1,372,968 shares. Approximately 9.7% of the company’s stock are short sold. Based on an average trading volume of 205,108 shares, the short-interest ratio is currently 5.6 days. Based on an average trading volume of 205,108 shares, the short-interest ratio is currently 5.6 days. Approximately 9.7% of the company’s stock are short sold.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Roth Mkm restated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Glj Research assumed coverage on shares of Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $450.00 price objective for the company. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Finally, Cantor Fitzgerald raised their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $427.00.
View Our Latest Stock Report on Powell Industries
Insider Transactions at Powell Industries
In other news, CEO Brett Alan Cope sold 1,480 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $504.80, for a total transaction of $747,104.00. Following the transaction, the chief executive officer directly owned 169,291 shares of the company’s stock, valued at $85,458,096.80. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thomas W. Powell sold 318 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $560.37, for a total value of $178,197.66. Following the completion of the transaction, the insider owned 650,472 shares in the company, valued at approximately $364,504,994.64. This represents a 0.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,638 shares of company stock valued at $17,907,456. Company insiders own 2.20% of the company’s stock.
Hedge Funds Weigh In On Powell Industries
Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new stake in shares of Powell Industries during the fourth quarter valued at approximately $230,000. Pacer Advisors Inc. purchased a new position in Powell Industries in the fourth quarter worth $468,000. Vision One Management Partners LP boosted its position in Powell Industries by 160.5% in the fourth quarter. Vision One Management Partners LP now owns 61,448 shares of the industrial products company’s stock worth $19,588,000 after purchasing an additional 37,857 shares during the last quarter. Galaxy Group Investments LLC bought a new position in Powell Industries in the 4th quarter valued at $1,532,000. Finally, NewEdge Advisors LLC grew its stake in Powell Industries by 52.6% in the 4th quarter. NewEdge Advisors LLC now owns 9,120 shares of the industrial products company’s stock valued at $2,907,000 after purchasing an additional 3,145 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Powell Industries Trading Down 0.5%
Powell Industries stock traded down $2.77 during trading on Wednesday, hitting $519.35. 35,187 shares of the company were exchanged, compared to its average volume of 272,030. The company has a market capitalization of $6.30 billion, a P/E ratio of 33.75, a PEG ratio of 2.29 and a beta of 0.82. The business’s 50 day moving average is $490.05 and its 200 day moving average is $383.17. Powell Industries has a 52 week low of $152.89 and a 52 week high of $612.50.
Powell Industries shares are set to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, April 5th.
Powell Industries (NASDAQ:POWL – Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. During the same period last year, the firm earned $2.86 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Powell Industries will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. 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.