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HOUSTON—Brett Alan Cope, President and CEO of Powell Industries Inc. (NASDAQ:POWL), recently sold 446 shares of the company’s common stock, according to a filing submitted to the Securities and Exchange Commission. The shares were sold at an average price of $200.02 each, resulting in a total transaction value of $89,208. The transaction comes as Powell Industries, with a market capitalization of $2.2 billion, maintains strong financial health according to InvestingPro analysis, trading at an attractive P/E ratio of 13.7x.
The transaction, executed on March 25, 2025, was conducted under a Rule 10b5-1 trading plan, which Cope had adopted on November 26, 2024. Following this sale, Cope retains direct ownership of 158,125 shares in the company. The stock currently trades at $180.92, below the insider sale price, and appears undervalued based on InvestingPro’s comprehensive analysis, which includes 8 additional key insights available to subscribers.
The reported sale price is an average, with shares being sold in multiple transactions within the range of $200.00 to $200.03. Powell Industries, based in Houston, Texas, specializes in switchgear and switchboard apparatus. The company has demonstrated strong performance with a 38% revenue growth over the last twelve months and maintains a healthy balance sheet with more cash than debt.
In other recent news, Powell Industries reported impressive financial results for the first quarter of fiscal year 2025. The company exceeded expectations with earnings per share (EPS) of $2.86, surpassing the forecast of $2.61, and achieved revenue of $241 million, which was higher than the anticipated $230.88 million. This represents a 24% year-over-year increase in revenue and a 44% rise in net income, driven by strong demand across multiple sectors. Additionally, Powell Industries announced a significant development in its corporate governance. Stockholders approved an amendment to the Certificate of Incorporation to include exculpation provisions for certain officers, aligning with Delaware law.
Furthermore, stockholders re-elected three directors to the board and endorsed executive compensation plans. On the strategic front, Powell Industries is exploring potential mergers and acquisitions in the $50-75 million range, with a positive outlook for the oil and gas and petrochemical markets. The company remains optimistic about opportunities in the liquefied natural gas (LNG) project sector. These recent developments indicate Powell Industries’ strong financial performance and strategic initiatives aimed at sustaining growth.
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