Powell Industries (NASDAQ:POWL) Sets New 12-Month High – What’s Next?

Shares of Powell Industries, Inc. (NASDAQ:POWL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $252.57 and last traded at $251.71, with a volume of 46826 shares traded. The stock had previously closed at $242.77.

Analyst Ratings Changes

A number of brokerages have issued reports on POWL. Zacks Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Glj Research began coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price objective for the company. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Cantor Fitzgerald upped their price objective on shares of Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Powell Industries currently has an average rating of “Buy” and an average target price of $142.33.

Powell Industries Price Performance

The stock has a market capitalization of $9.21 billion, a PE ratio of 49.27, a PEG ratio of 3.28 and a beta of 0.81. The stock’s 50 day simple moving average is $193.48 and its two-hundred day simple moving average is $148.74.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.18. The firm had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, equities research analysts predict that Powell Industries, Inc. will post 5.48 earnings per share for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, February 18th. Powell Industries’s payout ratio is presently 7.02%.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 9,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total value of $1,584,000.00. Following the transaction, the executive vice president directly owned 83,400 shares in the company, valued at $14,678,400. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Treasurer David L. Eckenrode sold 885 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $190.00, for a total transaction of $168,150.00. Following the completion of the transaction, the treasurer owned 1,329 shares in the company, valued at approximately $252,510. The trade was a 39.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 248,688 shares of company stock valued at $44,535,053 in the last three months. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Institutional investors have recently modified their holdings of the business. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries during the 4th quarter valued at approximately $29,000. Avanza Fonder AB purchased a new stake in shares of Powell Industries during the 4th quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 valued at $36,000 after buying an additional 63 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Powell Industries during the 4th quarter valued at approximately $40,000. Finally, Larson Financial Group LLC lifted 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 valued at $41,000 after buying an additional 128 shares in the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.