Glj Research Initiates Coverage on Powell Industries (NASDAQ:POWL)

Equities research analysts at Glj Research assumed coverage on shares of Powell Industries (NASDAQ:POWL) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “hold” rating on the industrial products company’s stock.

POWL has been the subject of a number of other research reports. Roth Mkm reiterated a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Cantor Fitzgerald raised their target price on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $427.00.

Powell Industries Price Performance

Shares of Powell Industries stock traded down $19.36 during midday trading on Thursday, hitting $483.65. The company had a trading volume of 190,459 shares, compared to its average volume of 250,798. Powell Industries has a 1-year low of $152.40 and a 1-year high of $612.50. The business’s 50 day simple moving average is $465.25 and its two-hundred day simple moving average is $369.12. The stock has a market cap of $5.87 billion, a PE ratio of 31.43, a P/E/G ratio of 2.29 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. The firm had revenue of $251.18 million during the quarter, compared to the consensus estimate of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.86 EPS. On average, sell-side analysts expect that Powell Industries will post 13.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the sale, the vice president owned 4,451 shares of the company’s stock, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Thomas W. Powell sold 318 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $560.37, for a total value of $178,197.66. Following the completion of the sale, the insider directly owned 650,472 shares in the company, valued at approximately $364,504,994.64. This represents a 0.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,158 shares of company stock valued at $17,160,352. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in shares of Powell Industries in the 4th quarter valued at $468,000. Corient Private Wealth LLC acquired a new stake in shares of Powell Industries during the 4th quarter worth about $230,000. Vision One Management Partners LP increased its position in shares of Powell Industries by 160.5% during the 4th quarter. Vision One Management Partners LP now owns 61,448 shares of the industrial products company’s stock worth $19,588,000 after purchasing an additional 37,857 shares in the last quarter. Galaxy Group Investments LLC bought a new position in Powell Industries during the 4th quarter valued at about $1,532,000. Finally, NewEdge Advisors LLC lifted its holdings in Powell Industries by 52.6% during the 4th quarter. NewEdge Advisors LLC now owns 9,120 shares of the industrial products company’s stock valued at $2,907,000 after purchasing an additional 3,145 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

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.