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Thomas Powell Sells 49,778 Shares of Powell Industries (NASDAQ:POWL) Stock
Thomas Powell, a major shareholder in Powell Industries (NASDAQ:POWL), sold 49,778 shares worth approximately $25 million on March 19th, reducing his stake by 7.68%. This transaction occurred as POWL stock traded up 5.2% intraday and the company announced a 3-for-1 stock split effective April 6th. Powell Industries also recently beat EPS estimates, reported a 4.1% revenue increase, and declared a $0.27 quarterly dividend.