Insider Selling: Powell Industries (NASDAQ:POWL) EVP Sells $1,280,880.00 in Stock

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

Powell Industries Stock Performance

NASDAQ POWL traded down $21.50 during trading on Wednesday, reaching $264.86. The company’s stock had a trading volume of 760,946 shares, compared to its average volume of 762,166. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 51.83, a P/E/G ratio of 3.67 and a beta of 1.11. Powell Industries, Inc. has a twelve month low of $68.33 and a twelve month high of $328.00. The business’s fifty day moving average price is $284.98 and its 200-day moving average price is $205.04.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share 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 business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same quarter last year, the company posted $3.81 EPS. Powell Industries’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on POWL. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Glj Research began coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $150.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and an average price target of $236.67.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors acquired a new position in shares of Powell Industries during the 4th quarter worth $20,704,000. Legato Capital Management LLC acquired a new stake in Powell Industries in the 3rd quarter valued at about $693,000. Hudson Bay Capital Management LP acquired a new stake in Powell Industries in the 3rd quarter valued at about $3,098,000. Hel Ved Capital Management Ltd purchased a new position in Powell Industries during the 3rd quarter valued at about $1,280,000. Finally, Voss Capital LP increased its holdings in Powell Industries by 59.6% during the 3rd quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock valued at $89,919,000 after acquiring an additional 110,140 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.