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

Key Points

• CEO Brett Alan Cope sold 4,440 shares of Powell Industries at an average price of $241.55, totaling about $1.07 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and Cope still owns more than 517,000 shares.
• Powell Industries' stock slipped 1.9% to $232.19 in Friday trading, with a market value of about $8.46 billion. The shares have traded between a 12-month low of $68.33 and a high of $328.00.
• The company recently missed quarterly earnings estimates, posting $1.25 EPS versus the expected $1.34, though revenue still rose 6.5% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $236.67.

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) CEO Brett Alan Cope sold 4,440 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the transaction, the chief executive officer owned 517,233 shares in the company, valued at $124,937,631.15. This trade represents a 0.85% 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.

Brett Alan Cope also recently made the following trade(s):

• On Thursday, May 14th, Brett Alan Cope sold 4,440 shares of Powell Industries stock. The stock was sold at an average price of $301.00, for a total transaction of $1,336,440.00.

Powell Industries Trading Down 1.9%

NASDAQ POWL traded down $4.39 during trading on Friday, reaching $232.19. The company's stock had a trading volume of 496,814 shares, compared to its average volume of 759,403. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 3.03 and a beta of 1.13. Powell Industries, Inc. has a 12 month low of $68.33 and a 12 month high of $328.00. The firm has a 50 day moving average price of $284.21 and a 200 day moving average price of $211.57.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. During the same period in the prior year, the business posted $3.81 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast 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 was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries's dividend payout ratio is currently 7.05%.

Analysts Set New Price Targets

POWL has been the subject of several analyst reports. Texas Capital raised Powell Industries to a "strong-buy" rating in a report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. 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 shares of Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald raised their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $236.67.

Institutional Investors Weigh In On Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greenline Wealth Management LLC bought a new position in Powell Industries in the fourth quarter valued at about $29,000. Avanza Fonder AB bought a new stake in shares of Powell Industries during the fourth quarter worth about $30,000. Hollencrest Capital Management acquired a new position in shares of Powell Industries in the first quarter valued at approximately $54,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company's stock valued at $30,000 after buying an additional 68 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company's stock valued at $36,000 after buying an additional 63 shares during the last quarter. 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.

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