Powell Industries (NASDAQ:POWL) EVP Michael William Metcalf Sells 4,500 Shares of Stock

Powell Industries, Inc. (NASDAQ:POWL) EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction dated 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 transaction, the executive vice president directly 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 document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Powell Industries Trading Down 7.5%

Powell Industries stock opened at $264.86 on Thursday. The firm has a market capitalization of $9.65 billion, a P/E ratio of 51.83, a PEG ratio of 3.74 and a beta of 1.13. Powell Industries, Inc. has a 1 year low of $68.33 and a 1 year high of $328.00. The business has a 50-day moving average of $285.45 and a 200-day moving average of $206.05.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS 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 company had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same period last year, the company earned $3.81 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that Powell Industries, Inc. will post 5.47 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a $0.09 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is 7.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds 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 worth $29,000. Avanza Fonder AB acquired a new position in Powell Industries in the 4th quarter worth $30,000. State of Wyoming acquired a new position in Powell Industries in the 2nd quarter worth $33,000. Steward Partners Investment Advisory LLC increased its holdings in Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, First Horizon Corp bought a new position in Powell Industries during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Cantor Fitzgerald raised their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Glj Research began 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. Texas Capital raised Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.67.

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.