Powell Industries (NASDAQ:POWL) Reaches New 1-Year High – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $455.85 and last traded at $444.9880, with a volume of 56894 shares changing hands. The stock had previously closed at $442.28.

Analysts Set New Price Targets

Several equities analysts have weighed in on POWL shares. Cantor Fitzgerald assumed coverage on Powell Industries in a report on Friday, January 23rd. They set a “neutral” rating and a $427.00 price target for the company. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Roth Mkm restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.50.

Powell Industries Price Performance

The stock has a market capitalization of $5.35 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The stock’s 50 day moving average is $352.21 and its two-hundred day moving average is $313.49.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.46. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The business had revenue of $297.98 million during the quarter, compared to analysts’ expectations of $292.85 million. During the same period in the previous year, the company earned $3.77 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.2%. Powell Industries’s payout ratio is 7.21%.

Insider Transactions at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of Powell Industries stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of large investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of Powell Industries by 2.0% in the 4th quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming increased its holdings in Powell Industries by 18.5% during the third quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock valued at $57,000 after buying an additional 29 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Powell Industries by 2.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 29 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Powell Industries by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company’s stock worth $868,000 after acquiring an additional 30 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Powell Industries by 3.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

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.