Powell Industries (NASDAQ:POWL) CEO Sells $1,038,782.40 in Stock

Key Points

• CEO Brett Alan Cope sold 4,440 shares on April 9 for $1,038,782.40 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 2.62% to 164,851 shares valued at about $38.57M.
• Powell beat quarterly EPS estimates ($1.13 vs. $0.95) with revenue up 4.1% year-over-year but slightly under consensus, and recently paid a reduced quarterly dividend of $0.09 (annualized $0.36, ~0.2% yield).
• Shares traded at $228.99 (down 0.8%) near a 52-week high, the company has a market cap of $8.34B and high institutional ownership (89.77%), and analysts' ratings are mixed but average to a "Buy" with a consensus target of $142.33.

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) CEO Brett Alan Cope sold 4,440 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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, 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 Stock Down 0.8%

Shares of NASDAQ:POWL traded down $1.95 on Monday, hitting $228.99. 447,002 shares of the company traded hands, compared to its average volume of 797,334. Powell Industries, Inc. has a 52 week low of $51.49 and a 52 week high of $237.79. The stock has a 50 day simple moving average of $181.84 and a 200-day simple moving average of $139.64. The company has a market cap of $8.34 billion, a PE ratio of 44.64, a PEG ratio of 3.01 and a beta of 0.81.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share 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 firm had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. During the same period last year, the company earned $0.95 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC boosted its position in Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company's stock worth $705,475,000 after purchasing an additional 686,588 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Powell Industries by 1,230,312.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company's stock valued at $247,106,000 after buying an additional 775,097 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company's stock valued at $225,263,000 after buying an additional 6,419 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Powell Industries by 65.8% during the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company's stock valued at $187,479,000 after buying an additional 244,051 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company's stock valued at $74,100,000 after buying an additional 3,159 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on POWL shares. Glj Research started coverage on Powell Industries in a report on Thursday, March 5th. They issued a "hold" rating and a $150.00 price objective for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Powell Industries in a report on Monday, December 29th. Zacks Research upgraded Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Wall Street Zen downgraded Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Cantor Fitzgerald lifted 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. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Powell Industries currently has an average rating of "Buy" and a consensus price target of $142.33.

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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