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 Powell Industries stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40. Following the transaction, the chief executive officer directly owned 164,851 shares in the company, valued at approximately $38,568,539.96. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $747,104.00.

Powell Industries Price Performance

Shares of POWL stock traded down $1.95 during trading hours on Monday, reaching $228.99. 447,002 shares of the company traded hands, compared to its average volume of 797,334. The firm has a 50-day moving average price of $181.84 and a 200 day moving average price of $139.64. The company has a market cap of $8.34 billion, a P/E ratio of 44.64, a P/E/G 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 earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.18. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company had revenue of $251.18 million for the quarter, compared to the consensus estimate of $255.34 million. During the same quarter last year, the company earned $0.95 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Cuts Dividend

The business also recently announced 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 of this dividend was Wednesday, February 18th. Powell Industries’s payout ratio is 7.02%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on POWL. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Glj Research started coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price objective on the stock. Zacks Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Cantor Fitzgerald upped their price objective on Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $142.33.

Hedge Funds Weigh In On Powell Industries

Several large investors have recently modified their holdings of POWL. Truist Financial Corp grew its position in Powell Industries by 42.9% in the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after acquiring an additional 4,519 shares during the last quarter. Tema Etfs LLC grew its position in Powell Industries by 281.6% in the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock valued at $16,207,000 after acquiring an additional 39,238 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Powell Industries by 6.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock valued at $27,332,000 after acquiring an additional 5,455 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Powell Industries by 32.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock valued at $17,961,000 after acquiring an additional 14,013 shares during the last quarter. Finally, Littlejohn Financial Services Inc. bought a new position in Powell Industries in the 3rd quarter valued at $1,078,000. Institutional investors own 89.77% of the company’s stock.

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.