Insider Selling: Powell Industries, Inc. (NASDAQ:POWL) CEO Sells $391,352.50 in Stock

Powell Industries, Inc. (NASDAQ:POWL) CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Powell Industries Stock Down 0.4 %

Powell Industries stock opened at $142.12 on Monday. The company has a market capitalization of $1.70 billion, a PE ratio of 16.88, a P/E/G ratio of 1.12 and a beta of 0.88. The firm has a fifty day simple moving average of $163.87 and a two-hundred day simple moving average of $141.84. Powell Industries, Inc. has a twelve month low of $58.81 and a twelve month high of $209.14.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The firm had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $201.45 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. As a group, equities analysts expect that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th were given a $0.265 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.75%. Powell Industries’s payout ratio is presently 12.59%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 6th.

Hedge Funds Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently modified their holdings of POWL. American Century Companies Inc. increased its position in shares of Powell Industries by 79.8% during the third quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock valued at $8,444,000 after buying an additional 45,209 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Powell Industries by 471.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock valued at $4,448,000 after buying an additional 25,789 shares during the period. Spirepoint Private Client LLC purchased a new position in shares of Powell Industries during the first quarter valued at about $3,533,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Powell Industries during the fourth quarter valued at about $1,635,000. Finally, Vanguard Group Inc. increased its position in shares of Powell Industries by 2.7% during the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after buying an additional 17,177 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.