Key Points
- Brett Alan Cope sold 1,480 shares of Powell Industries on March 12 at an average price of $504.80 for about $747,104, trimming his position by 0.87% while still owning 169,291 shares (~$85.46M).
- The company will implement a 3-for-1 stock split, with new shares issued after market close on April 5 and the split effective the morning of April 6.
- Powell beat EPS expectations with $3.40 per share versus $2.85 expected (revenue $251.2M vs. $255.3M est.), and reported strong profitability (ROE 30.6%, net margin 16.8%).
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) CEO Brett Alan Cope sold 1,480 shares of Powell Industries stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $504.80, for a total value of $747,104.00. Following the sale, the chief executive officer directly owned 169,291 shares of the company's stock, valued at approximately $85,458,096.80. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Powell Industries Trading Up 1.8%
POWL opened at $511.82 on Tuesday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 33.26, a PEG ratio of 2.25 and a beta of 0.82. The stock has a 50-day moving average price of $486.81 and a 200-day moving average price of $381.37. Powell Industries, Inc. has a 12-month low of $152.89 and a 12-month high of $612.50.
Powell Industries's stock is going to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, April 5th.
Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.55. The company had revenue of $251.18 million for the quarter, compared to analysts' expectations of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.Powell Industries's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.86 EPS. On average, equities research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.
Powell Industries Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.2%. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries's payout ratio is 7.02%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on POWL shares. Glj Research assumed coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a "hold" rating and a $450.00 price objective for the company. Roth Mkm reiterated a "buy" rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Cantor Fitzgerald boosted their price target on shares of Powell Industries from $427.00 to $481.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Wall Street Zen lowered shares of Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Powell Industries in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.00.
Read Our Latest Research Report on Powell Industries
Institutional Trading of Powell Industries
A number of institutional investors have recently made changes to their positions in the stock. Greenline Wealth Management LLC bought a new position in shares of Powell Industries in the fourth quarter worth approximately $29,000. Avanza Fonder AB bought a new stake in Powell Industries during the 4th quarter valued at $30,000. Elevation Point Wealth Partners LLC bought a new stake in Powell Industries during the 2nd quarter valued at $33,000. State of Wyoming purchased a new stake in Powell Industries during the 2nd quarter valued at $33,000. Finally, Steward Partners Investment Advisory LLC grew 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 worth $36,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
Powell Industries Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
