Massive Insider Trade At Powell Industries

Terry B McKertcher, Vice President at Powell Industries (NASDAQ:POWL), reported an insider buy on October 2, according to a new SEC filing.

What Happened: McKertcher made a significant move by purchasing 500 shares of Powell Industries as reported in a Form 4 filing with the U.S. Securities and Exchange Commission. The transaction's total worth stands at $91,070.

The latest market snapshot at Thursday morning reveals Powell Industries shares up by 2.69%, trading at $237.84.

Unveiling the Story Behind Powell Industries

Powell Industries Inc is a United States-based company that develops, designs, manufactures, and services custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. The company's principal products comprise integrated power control room substations, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switchgear and control gear, and so on. These products are applied in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and other heavy industrial markets. The company generates the majority of its sales from the United States.

Powell Industries: Delving into Financials

Revenue Growth: Powell Industries displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 49.8%. This indicates a ...

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