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 Powell Industries stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the sale, the executive vice president directly owned 78,900 shares in the company, valued at approximately $22,458,096. This represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Powell Industries Stock Performance

NASDAQ POWL opened at $246.33 on Friday. Powell Industries, Inc. has a 52 week low of $68.33 and a 52 week high of $328.00. The stock’s 50 day moving average price is $285.55 and its two-hundred day moving average price is $206.99. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 3.46 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued its quarterly 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). The business had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.Powell Industries’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.81 earnings per share. On average, equities research analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on POWL. Glj Research began coverage on shares of Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $150.00 price objective for the company. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a report 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. Finally, Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Powell Industries has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Institutional Trading of Powell Industries

Large investors have recently added to or reduced their stakes in the company. Greenline Wealth Management LLC acquired a new position in shares of Powell Industries during the 4th quarter worth about $29,000. Avanza Fonder AB acquired a new stake in Powell Industries in the 4th quarter valued at about $30,000. Hollencrest Capital Management acquired a new stake in Powell Industries in the 1st quarter valued at about $54,000. MassMutual Private Wealth & Trust FSB grew its holdings in Powell Industries by 183.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. 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.