Key Points
- Powell Industries CEO Brett Alan Cope sold 4,440 shares on May 14 at an average price of $301, totaling about $1.34 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owns 490,113 shares.
- The company recently missed quarterly earnings estimates, reporting $1.25 EPS versus the expected $1.34, while revenue came in slightly below forecasts at $296.62 million. Despite that miss, revenue rose 6.5% year over year.
- Analysts remain mixed on POWL: recent price targets have been raised by JPMorgan and Cantor Fitzgerald, but other firms downgraded the stock to hold. MarketBeat reports an average rating of Moderate Buy with a target price of $236.67.
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, May 14th. The shares were sold at an average price of $301.00, for a total value of $1,336,440.00. Following the completion of the sale, the chief executive officer directly owned 490,113 shares of the company's stock, valued at approximately $147,524,013. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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, April 9th, Brett Alan Cope sold 4,440 shares of Powell Industries stock. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40.
- 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 1.5%
Shares of POWL stock opened at $292.65 on Friday. Powell Industries, Inc. has a fifty-two week low of $54.75 and a fifty-two week high of $328.00. The stock has a market cap of $10.66 billion, a P/E ratio of 57.27, a P/E/G ratio of 3.88 and a beta of 1.14. The business has a fifty day simple moving average of $222.53 and a 200-day simple moving average of $165.60.
Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.09). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm had revenue of $296.62 million during the quarter, compared to analysts' expectations of $298.12 million. During the same quarter in the prior year, the business earned $3.81 EPS. The company's quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current year.
Powell Industries Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a $0.09 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries's dividend payout ratio (DPR) is currently 7.05%.
Analysts Set New Price Targets
POWL has been the subject of a number of research analyst reports. Zacks Research cut Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Texas Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on Powell Industries from $310.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Wall Street Zen cut Powell Industries from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Cantor Fitzgerald lifted their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Powell Industries has an average rating of "Moderate Buy" and an average target price of $236.67.
Read Our Latest Research Report on Powell Industries
Institutional Trading of Powell Industries
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp increased its position in Powell Industries by 4.3% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,835 shares of the industrial products company's stock worth $3,157,000 after purchasing an additional 240 shares in the last quarter. Waverly Advisors LLC purchased a new stake in Powell Industries during the 1st quarter worth about $207,000. Entropy Technologies LP increased its position in Powell Industries by 17.9% during the 1st quarter. Entropy Technologies LP now owns 1,320 shares of the industrial products company's stock worth $714,000 after purchasing an additional 200 shares in the last quarter. Renaissance Technologies LLC increased its position in Powell Industries by 229.4% during the 1st quarter. Renaissance Technologies LLC now owns 34,694 shares of the industrial products company's stock worth $18,772,000 after purchasing an additional 24,160 shares in the last quarter. Finally, Sei Investments Co. increased its position in Powell Industries by 111.0% during the 1st quarter. Sei Investments Co. now owns 16,199 shares of the industrial products company's stock worth $8,765,000 after purchasing an additional 8,522 shares in 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.
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