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

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $233.96, for a total transaction of $1,038,782.40. Following the transaction, the chief executive officer directly owned 164,851 shares of the company’s stock, valued at $38,568,539.96. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, 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 transaction of $747,104.00.

Powell Industries Trading Down 0.8%

Powell Industries stock opened at $228.99 on Tuesday. The firm has a 50-day moving average price of $183.48 and a 200-day moving average price of $140.59. The firm has a market capitalization of $8.34 billion, a PE ratio of 44.64, a price-to-earnings-growth ratio of 3.01 and a beta of 0.81. Powell Industries, Inc. has a 12-month low of $51.49 and a 12-month high of $237.79.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.95 by $0.18. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 18th. Powell Industries’s dividend payout ratio is presently 7.02%.

Analyst Ratings Changes

POWL has been the subject of a number of recent analyst reports. Zacks Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Cantor Fitzgerald increased their target price on Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Finally, Glj Research initiated coverage on shares of Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $142.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Powell Industries by 1.5% in the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after buying an additional 461 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Powell Industries by 7.9% during the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 461 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Powell Industries by 1,221.0% during the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Powell Industries by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 1,311 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Powell Industries by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock valued at $6,548,000 after purchasing an additional 1,822 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.