Short Interest in Powell Industries, Inc. (NASDAQ:POWL) Rises By 20.7%

Powell Industries, Inc. (NASDAQ:POWL) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,400,000 shares, an increase of 20.7% from the March 31st total of 1,160,000 shares. Approximately 15.0% of the company’s shares are short sold. Based on an average daily volume of 362,100 shares, the short-interest ratio is currently 3.9 days.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the sale, the insider now directly owns 1,688,628 shares in the company, valued at $294,462,950.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the sale, the insider now directly owns 1,688,628 shares in the company, valued at $294,462,950.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $167.46, for a total transaction of $1,674,600.00. Following the sale, the insider now owns 1,703,628 shares of the company’s stock, valued at $285,289,544.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,000 shares of company stock worth $4,850,830. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System increased its stake in shares of Powell Industries by 1.2% during the first quarter. New York State Teachers Retirement System now owns 8,208 shares of the industrial products company’s stock valued at $1,168,000 after purchasing an additional 100 shares in the last quarter. Precision Wealth Strategies LLC boosted its stake in shares of Powell Industries by 4.6% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 142 shares during the last quarter. AJOVista LLC bought a new stake in shares of Powell Industries during the 4th quarter valued at $29,000. Panagora Asset Management Inc. raised its position in shares of Powell Industries by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company’s stock valued at $3,260,000 after purchasing an additional 350 shares during the period. Finally, Covestor Ltd raised its position in shares of Powell Industries by 121.1% during the 3rd quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 436 shares during the period. 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 “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

Powell Industries Price Performance

POWL stock opened at $143.00 on Wednesday. Powell Industries has a 1 year low of $39.65 and a 1 year high of $197.87. The company has a market cap of $1.72 billion, a P/E ratio of 22.45, a PEG ratio of 1.41 and a beta of 0.80. The firm has a 50-day moving average of $147.95 and a 200 day moving average of $111.35.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.98. Powell Industries had a net margin of 10.10% and a return on equity of 22.30%. The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $182.04 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. On average, equities research analysts expect that Powell Industries will post 7.54 earnings per share for the current fiscal year.

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.