Insider Selling: 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 business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $301.00, for a total transaction of $1,336,440.00. Following the completion of the sale, the chief executive officer directly owned 490,113 shares of the company’s stock, valued at approximately $147,524,013. The trade was a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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, 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 Price Performance

POWL stock opened at $292.65 on Monday. The company has a market cap of $10.66 billion, a PE ratio of 57.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.14. The business has a 50-day simple moving average of $222.53 and a 200 day simple moving average of $165.89. Powell Industries, Inc. has a 52 week low of $54.75 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The company had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $3.81 EPS. On average, analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in shares of Powell Industries by 1.1% in the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock valued at $510,000 after buying an additional 18 shares during the period. CWM LLC increased its stake in shares of Powell Industries by 2.0% in the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after buying an additional 24 shares during the period. Sequoia Financial Advisors LLC boosted its position in Powell Industries by 3.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock worth $219,000 after buying an additional 25 shares during the period. Maryland State Retirement & Pension System grew its holdings in Powell Industries by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 27 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in Powell Industries by 2.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on POWL. Cantor Fitzgerald boosted their target price on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings raised Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.67.

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.