Powell Industries (NASDAQ:POWL) CEO Brett Alan Cope Sells 4,440 Shares

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $1,336,440.00.

Powell Industries Stock Down 1.9%

Shares of NASDAQ POWL traded down $4.39 during midday trading on Friday, hitting $232.19. The stock had a trading volume of 606,744 shares, compared to its average volume of 777,181. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 3.09 and a beta of 1.13. Powell Industries, Inc. has a 1-year low of $68.33 and a 1-year high of $328.00. The company has a fifty day moving average price of $283.79 and a 200 day moving average price of $211.72.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (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 business had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. During the same quarter in the prior year, the firm earned $3.81 earnings per share. Powell Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current 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. 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 payout ratio is currently 7.05%.

Institutional Trading of Powell Industries

Several large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Powell Industries by 1,230,312.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after acquiring an additional 775,097 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Powell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after purchasing an additional 6,419 shares during the last quarter. State Street Corp grew its stake in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after purchasing an additional 3,159 shares in the last quarter. Voss Capital LP grew its stake in Powell Industries by 18.6% during the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Powell Industries by 2.4% during the 3rd quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock worth $106,102,000 after purchasing an additional 8,083 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

POWL has been the subject of a number of recent research reports. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald lifted their price objective on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and a consensus price target 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.