Key Points
- CEO Brett Cope sold 4,799 Powell Industries shares at an average price of $187.67, generating approximately $900,628. He retained 507,934 shares, and the sale reduced his ownership by 0.94%.
- Powell Industries’ latest quarterly results fell short of expectations, with EPS of $1.42 versus the $1.49 consensus and revenue of $311.74 million versus estimates of $316.70 million. Revenue still increased 8.9% year over year.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $215.42, while institutional investors own 89.77% of the company’s stock.
Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) VP William Marshall Mauney, Jr. sold 301 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $56,488.67. Following the completion of the transaction, the vice president owned 10,552 shares of the company's stock, valued at $1,980,293.84. The trade was a 2.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Powell Industries Stock Performance
Powell Industries stock opened at $196.10 on Friday. The company has a market cap of $7.14 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.17. Powell Industries, Inc. has a one year low of $92.59 and a one year high of $328.00. The business has a fifty day moving average of $192.96 and a two-hundred day moving average of $231.54.
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 for the quarter, missing analysts' consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. Sell-side analysts predict that Powell Industries, Inc. will post 5.36 EPS for the current year.
Powell Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.2%. Powell Industries's payout ratio is currently 6.91%.
Institutional Investors Weigh In On Powell Industries
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Powell Industries during the second quarter worth about $1,033,376,000. Janus Henderson Group PLC lifted its holdings in shares of Powell Industries by 55.1% in the first quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company's stock valued at $121,643,000 after purchasing an additional 79,932 shares in the last quarter. Voss Capital LP grew its position in shares of Powell Industries by 18.6% in the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company's stock valued at $111,573,000 after purchasing an additional 55,000 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Powell Industries in the second quarter valued at approximately $93,845,000. Finally, GW&K Investment Management LLC increased its stake in shares of Powell Industries by 13.4% during the 4th quarter. GW&K Investment Management LLC now owns 254,520 shares of the industrial products company's stock worth $81,137,000 after purchasing an additional 30,013 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Glj Research raised shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Weiss Ratings lowered Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $235.00 price target on shares of Powell Industries in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.42.
View Our Latest Report on POWL
About Powell Industries
(
Get Free Report)
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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