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

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $301.00, for a total value 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 $147,524,013. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Trading Down 1.5%

POWL stock opened at $292.65 on Friday. The company has a market capitalization of $10.66 billion, a P/E ratio of 57.27, a PEG ratio of 3.88 and a beta of 1.14. Powell Industries, Inc. has a twelve month low of $54.75 and a twelve month high of $328.00. The business has a 50 day simple moving average of $222.53 and a 200-day simple moving average of $165.60.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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 firm 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%. Powell Industries’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.81 earnings per share. Research analysts predict 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 issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is currently 7.05%.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp lifted its holdings in Powell Industries by 4.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,835 shares of the industrial products company’s stock valued at $3,157,000 after acquiring an additional 240 shares during the period. Waverly Advisors LLC acquired a new stake in Powell Industries in the first quarter valued at $207,000. Entropy Technologies LP lifted its holdings in Powell Industries by 17.9% in the first quarter. Entropy Technologies LP now owns 1,320 shares of the industrial products company’s stock valued at $714,000 after acquiring an additional 200 shares during the period. Renaissance Technologies LLC lifted its holdings in Powell Industries by 229.4% in the first quarter. Renaissance Technologies LLC now owns 34,694 shares of the industrial products company’s stock valued at $18,772,000 after acquiring an additional 24,160 shares during the period. Finally, Sei Investments Co. lifted its holdings in Powell Industries by 111.0% in the first quarter. Sei Investments Co. now owns 16,199 shares of the industrial products company’s stock valued at $8,765,000 after acquiring an additional 8,522 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Glj Research assumed coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One investment 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, the stock has an average rating of “Moderate Buy” and an average price target 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.