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

Shares of Powell Industries, Inc. (NASDAQ:POWL) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $236.6667.

Several brokerages have recently weighed in on POWL. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Glj Research began coverage on shares of Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th.

Insider Buying and Selling at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 2,500 shares of Powell Industries stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the sale, the vice president owned 10,853 shares in the company, valued at approximately $3,513,007.57. The trade was a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael William Metcalf sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total transaction of $1,584,000.00. Following the transaction, the executive vice president owned 83,400 shares in the company, valued at approximately $14,678,400. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 183,835 shares of company stock valued at $32,915,210. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of the business. Alps Advisors Inc. grew its position in shares of Powell Industries by 1.1% during the fourth quarter. Alps Advisors Inc. now owns 1,599 shares of the industrial products company’s stock worth $510,000 after acquiring an additional 18 shares during the last quarter. CWM LLC grew its position in shares of Powell Industries by 2.0% during the fourth quarter. CWM LLC now owns 1,219 shares of the industrial products company’s stock worth $389,000 after acquiring an additional 24 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Powell Industries by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 686 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 25 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Powell Industries by 2.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 1,380 shares of the industrial products company’s stock worth $440,000 after buying an additional 27 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its stake in shares of 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 worth $319,000 after buying an additional 29 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Performance

NASDAQ:POWL opened at $261.58 on Wednesday. The stock has a 50-day simple moving average of $226.52 and a 200-day simple moving average of $167.75. The stock has a market cap of $9.53 billion, a P/E ratio of 51.19, a P/E/G ratio of 3.48 and a beta of 1.14. Powell Industries has a 1 year low of $54.75 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.81 earnings per share. On average, equities research analysts predict that Powell Industries will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.1%. Powell Industries’s payout ratio is 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.