Powell Industries (NASDAQ:POWL) Stock: Insider Brett Alan Cope Sells 4,799 Shares

Key Points

• CEO Brett Alan Cope sold 4,799 Powell Industries shares at an average price of $187.67, generating approximately $900,628. He retained 507,934 shares, with the sale reducing his ownership by 0.94%.
• Powell Industries shares rose 2.9% to $196.10, but the company’s latest quarterly results fell short of expectations, with EPS of $1.42 versus the $1.49 consensus and revenue of $311.74 million versus $316.70 million expected.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $215.42. The company also pays a quarterly dividend of $0.09, representing a 0.2% yield.

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) CEO Brett Cope sold 4,799 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $900,628.33. Following the sale, the chief executive officer directly owned 507,934 shares in the company, valued at approximately $95,323,973.78. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, July 9th, Brett Cope sold 4,440 shares of Powell Industries stock. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00.

Powell Industries Trading Up 2.9%

POWL traded up $5.50 on Friday, hitting $196.10. 546,885 shares of the company were exchanged, compared to its average volume of 722,358. Powell Industries, Inc. has a twelve month low of $92.59 and a twelve month high of $328.00. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17. The firm has a 50-day moving average price of $193.69 and a two-hundred day moving average price of $231.79.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.96 EPS. Equities analysts expect that Powell Industries, Inc. will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.2%. Powell Industries's dividend payout ratio (DPR) is 6.91%.

Hedge Funds Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in POWL. QRG Capital Management Inc. acquired a new stake in Powell Industries during the second quarter worth approximately $211,000. Anchor Investment Management LLC boosted its holdings in shares of Powell Industries by 92.9% in the 2nd quarter. Anchor Investment Management LLC now owns 135 shares of the industrial products company's stock valued at $39,000 after buying an additional 65 shares in the last quarter. SkyView Investment Advisors LLC acquired a new position in shares of Powell Industries in the 2nd quarter valued at $215,000. Sequoia Financial Advisors LLC grew its position in shares of Powell Industries by 205.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,751 shares of the industrial products company's stock valued at $501,000 after buying an additional 1,177 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Powell Industries by 222.3% in the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company's stock valued at $80,892,000 after buying an additional 194,840 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on POWL. Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $235.00 price objective on shares of Powell Industries in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Powell Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.42.

About Powell Industries

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.

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