Powell Industries (NASDAQ:POWL) Upgraded by Glj Research to “Strong-Buy” Rating

Glj Research upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on POWL. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Powell Industries presently has a consensus rating of “Buy” and a consensus price target of $236.67.

Powell Industries Trading Up 5.4%

POWL opened at $247.01 on Tuesday. The company has a market cap of $9.00 billion, a P/E ratio of 48.34, a PEG ratio of 3.06 and a beta of 1.13. The company’s 50 day moving average is $280.08 and its 200-day moving average is $215.02. Powell Industries has a 1-year low of $69.00 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 analysts’ consensus estimates of $1.34 by ($0.09). The company 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%.Powell Industries’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.81 earnings per share. On average, equities analysts forecast that Powell Industries will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The firm also recently declared 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 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio is 7.05%.

Insider Activity

In other news, EVP Michael William Metcalf sold 4,500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the completion of the transaction, the executive vice president owned 78,900 shares of the company’s stock, valued at approximately $22,458,096. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the transaction, the chief executive officer owned 517,233 shares in the company, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their position. 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 55,088 shares of company stock valued at $16,070,066. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenline Wealth Management LLC bought a new position in shares of Powell Industries during the fourth quarter worth about $29,000. Avanza Fonder AB acquired a new position in shares of Powell Industries in the fourth quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 valued at $30,000 after acquiring an additional 68 shares during the last quarter. State of Wyoming bought a new stake in Powell Industries in the second quarter valued at approximately $33,000. Finally, Steward Partners Investment Advisory LLC increased its position in 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 purchasing an additional 63 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

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.