Insider Selling: Powell Industries (NASDAQ:POWL) CEO Sells $747,104.00 in Stock

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 1,480 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $504.80, for a total value of $747,104.00. Following the completion of the transaction, the chief executive officer owned 169,291 shares of the company’s stock, valued at $85,458,096.80. The trade was a 0.87% 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 $502.23 on Thursday. The company has a market cap of $6.10 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. Powell Industries, Inc. has a one year low of $152.89 and a one year high of $612.50. The business has a fifty day moving average of $492.98 and a two-hundred day moving average of $384.00.

Shares of Powell Industries are set to split on the morning of Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. During the same period last year, the company posted $2.86 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 18th. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is 7.02%.

Hedge Funds Weigh In On Powell Industries

A number of institutional investors have recently made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries during the fourth quarter valued at $29,000. Avanza Fonder AB acquired a new position in Powell Industries in the 4th quarter valued at about $30,000. Steward Partners Investment Advisory LLC raised its stake 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 valued at $36,000 after purchasing an additional 63 shares during the last quarter. First Horizon Corp purchased a new position in Powell Industries in the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC boosted its stake in shares of Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 128 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on POWL shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Glj Research initiated 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 on the stock. Finally, Cantor Fitzgerald raised their target price on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $427.00.

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.