Powell Industries (NASDAQ:POWL) CEO Sells $1,072,482.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brett Alan Cope also recently made the following trade(s):

• On Thursday, May 14th, Brett Alan Cope sold 4,440 shares of Powell Industries stock. The stock was sold at an average price of $301.00, for a total transaction of $1,336,440.00.

Powell Industries Price Performance

NASDAQ POWL traded down $4.39 on Friday, reaching $232.19. The company had a trading volume of 496,814 shares, compared to its average volume of 759,403. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 45.44, a P/E/G ratio of 3.03 and a beta of 1.13. Powell Industries, Inc. has a fifty-two week low of $68.33 and a fifty-two week high of $328.00. The business has a 50 day moving average of $284.21 and a two-hundred day moving average of $211.57.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate 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 previous year, the firm posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares during the period. CWM LLC grew its position in shares of Powell Industries by 2.0% during the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after buying an additional 24 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Powell Industries by 3.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock worth $219,000 after buying an additional 25 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 27 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Powell Industries by 1.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company’s stock valued at $609,000 after acquiring an additional 30 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Cantor Fitzgerald increased their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.67.

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.