Key Points
- Powell Industries EVP Michael William Metcalf sold 4,500 shares on June 30 at an average price of $284.64, totaling about $1.28 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The transaction reduced Metcalf’s stake by 5.4%, leaving him with 78,900 shares valued at roughly $22.46 million after the sale.
- Powell Industries stock has been volatile, with shares recently down 7.5% and trading at $264.86, while the company also recently reported weaker-than-expected quarterly earnings and cut its dividend to $0.09 per quarter.
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) EVP Michael William Metcalf sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total value of $1,280,880.00. Following the completion of the sale, the executive vice president owned 78,900 shares in the company, valued at $22,458,096. The trade was a 5.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Powell Industries Stock Down 7.5%
NASDAQ:POWL opened at $264.86 on Thursday. Powell Industries, Inc. has a twelve month low of $68.33 and a twelve month high of $328.00. The business has a 50 day moving average price of $285.45 and a two-hundred day moving average price of $206.05. The company has a market cap of $9.65 billion, a P/E ratio of 51.83, a price-to-earnings-growth ratio of 3.74 and a beta of 1.13.
Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.09). The business had revenue of $296.62 million during the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. Powell Industries's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $3.81 earnings per share. As a group, analysts anticipate that Powell Industries, Inc. will post 5.47 earnings per share for the current fiscal year.
Powell Industries Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a $0.09 dividend. 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 0.1%. Powell Industries's dividend payout ratio (DPR) is 7.05%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Texas Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Friday, March 27th. Zacks Research downgraded Powell Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Glj Research initiated coverage on Powell Industries in a report on Thursday, March 5th. They set a "hold" rating and a $150.00 target price on the stock. Weiss Ratings raised 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 price target on Powell Industries from $160.00 to $320.00 and gave the company a "neutral" rating in a research note 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 given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.67.
Read Our Latest Report on Powell Industries
Institutional Trading of Powell Industries
A number of large investors have recently added to or reduced their stakes in POWL. Alps Advisors Inc. grew its position in shares of Powell Industries by 1.1% in the 4th quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company's stock valued at $510,000 after acquiring an additional 18 shares during the period. CWM LLC increased its stake in shares of Powell Industries by 2.0% during the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company's stock worth $389,000 after purchasing an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Powell Industries by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 25 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Powell Industries by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 27 shares during the period. Finally, Cornerstone Investment Partners LLC grew its holdings in Powell Industries by 1.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,911 shares of the industrial products company's stock worth $609,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.
About Powell Industries
(
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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