Powell Industries, Inc. (NASDAQ:POWL) Receives Average Rating of “Moderate Buy” from Brokerages

Powell Industries, Inc. (NASDAQ:POWL) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $236.6667.

POWL has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Cantor Fitzgerald boosted their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Texas Capital raised Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th.

Insider Buying and Selling at Powell Industries

In related news, Director Richard E. Williams sold 5,250 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the completion of the sale, the director directly owned 39,630 shares in the company, valued at approximately $11,856,899.70. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $323.69, for a total transaction of $809,225.00. Following the sale, the vice president directly owned 10,853 shares of the company’s stock, valued at approximately $3,513,007.57. This represents a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 50,648 shares of company stock worth $14,997,584. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of POWL. Greenline Wealth Management LLC bought a new position in Powell Industries in the 4th quarter worth $29,000. Avanza Fonder AB purchased a new stake in Powell Industries in the fourth quarter worth about $30,000. Hollencrest Capital Management purchased a new stake in Powell Industries in the first quarter worth about $54,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Powell Industries by 183.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock worth $30,000 after buying an additional 68 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 63 shares during the period. Institutional investors own 89.77% of the company’s stock.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $231.85 on Thursday. The company has a 50 day simple moving average of $284.59 and a two-hundred day simple moving average of $210.69. Powell Industries has a fifty-two week low of $68.33 and a fifty-two week high of $328.00. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 45.37, a P/E/G ratio of 3.06 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). The company had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. Powell Industries’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.81 earnings per share. On average, analysts forecast that Powell Industries will post 5.47 earnings per share 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 given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

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.