Michael William Metcalf Sells 4,500 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) EVP Michael William Metcalf sold 4,500 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the transaction, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Powell Industries Stock Performance

POWL stock traded down $21.50 during mid-day trading on Wednesday, reaching $264.86. The company had a trading volume of 760,946 shares, compared to its average volume of 762,166. The firm has a fifty day simple moving average of $284.98 and a 200 day simple moving average of $205.04. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 3.67 and a beta of 1.11. Powell Industries, Inc. has a fifty-two week low of $68.33 and a fifty-two week high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same period in the prior year, the firm posted $3.81 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio is currently 7.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald raised their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Greenline Wealth Management LLC purchased a new stake in Powell Industries in the fourth quarter valued at $29,000. Avanza Fonder AB acquired a new stake in shares of Powell Industries during the fourth quarter worth about $30,000. State of Wyoming purchased a new stake in shares of Powell Industries in the 2nd quarter valued at about $33,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 63 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Powell Industries in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

About Powell Industries

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.