Powell Industries (NASDAQ:POWL) CEO Sells $1,336,440.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $301.00, for a total value of $1,336,440.00. Following the sale, the chief executive officer owned 490,113 shares in the company, valued at $147,524,013. The trade was a 0.90% decrease in their position. The sale 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.

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

• On Thursday, April 9th, Brett Alan Cope sold 4,440 shares of Powell Industries stock. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40.
• On Thursday, March 12th, Brett Alan Cope sold 4,440 shares of Powell Industries stock. The shares were sold at an average price of $168.27, for a total value of $747,104.00.

Powell Industries Trading Down 1.5%

NASDAQ POWL traded down $4.33 on Friday, hitting $292.65. 1,257,970 shares of the stock traded hands, compared to its average volume of 778,241. The stock has a 50-day moving average of $220.09 and a 200 day moving average of $164.70. Powell Industries, Inc. has a twelve month low of $54.75 and a twelve month high of $328.00. The company has a market capitalization of $10.66 billion, a P/E ratio of 57.27, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14.

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

Powell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, May 20th. Powell Industries’s dividend payout ratio is presently 7.05%.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC bought a new position in Powell Industries in the 4th quarter worth approximately $29,000. Avanza Fonder AB bought a new position in Powell Industries in the 4th quarter worth approximately $30,000. State of Wyoming bought a new position in Powell Industries in the 2nd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC grew its holdings in 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 worth $36,000 after buying an additional 63 shares in the last quarter. Finally, First Horizon Corp bought a new position in Powell Industries in the 4th quarter worth approximately $40,000. 89.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on POWL. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday. Glj Research began coverage on Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One 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 stock. According to MarketBeat.com, the company has an average 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.