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 firm’s stock in a transaction dated Tuesday, June 30th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $246.33 on Friday. The stock has a market capitalization of $8.97 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 3.22 and a beta of 1.13. Powell Industries, Inc. has a 52-week low of $68.33 and a 52-week high of $328.00. The company has a 50-day simple moving average of $285.62 and a two-hundred day simple moving average of $207.27.

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). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. During the same quarter in the previous year, the company earned $3.81 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

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

Hedge Funds Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legato Capital Management LLC purchased a new position in Powell Industries in the third quarter worth about $693,000. Capital World Investors bought a new stake in shares of Powell Industries during the 4th quarter valued at about $20,704,000. Hel Ved Capital Management Ltd purchased a new stake in shares of Powell Industries during the 3rd quarter valued at about $1,280,000. Hudson Bay Capital Management LP purchased a new stake in shares of Powell Industries during the 3rd quarter valued at about $3,098,000. Finally, Voss Capital LP lifted its stake in shares of Powell Industries by 59.6% in the 3rd quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock worth $89,919,000 after purchasing an additional 110,140 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on POWL. Cantor Fitzgerald increased their target price on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their price target on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. One investment 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. According to MarketBeat, Powell Industries has an average rating of “Moderate Buy” and an average 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.