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

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer owned 517,233 shares in the company, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $301.00, for a total transaction of $1,336,440.00.

Powell Industries Trading Down 1.9%

Shares of POWL traded down $4.39 during mid-day trading on Friday, hitting $232.19. The company’s stock had a trading volume of 606,744 shares, compared to its average volume of 777,181. The company’s 50-day moving average is $283.79 and its 200-day moving average is $211.72. Powell Industries, Inc. has a 52-week low of $68.33 and a 52-week high of $328.00. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 3.03 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued 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). The business had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.81 earnings per share. As a group, sell-side 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. Investors 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 dividend payout ratio is 7.05%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several research firms have issued reports on POWL. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald raised their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One 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 MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and a consensus 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.