Powell Industries (NASDAQ:POWL) Price Target Lowered to $235.00 at Cantor Fitzgerald

Powell Industries (NASDAQ:POWL) had its price objective cut by Cantor Fitzgerald from $320.00 to $235.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms have also commented on POWL. Weiss Ratings lowered Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Powell Industries currently has an average rating of “Buy” and a consensus price target of $215.42.

Powell Industries Price Performance

POWL stock opened at $213.48 on Friday. Powell Industries has a 1 year low of $78.50 and a 1 year high of $328.00. The firm has a market capitalization of $7.78 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.73 and a beta of 1.18. The business has a 50 day simple moving average of $247.73 and a 200-day simple moving average of $228.48.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 EPS. On average, equities research analysts expect that Powell Industries will post 5.34 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is currently 6.91%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the sale, the insider directly owned 564,736 shares in the company, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael William Metcalf sold 4,500 shares of the company’s stock in a transaction dated 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 directly owned 78,900 shares in the company, valued at $22,458,096. The trade was a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,898 shares of company stock valued at $12,353,653. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently made changes to their positions in POWL. BlackRock Inc. acquired a new position in Powell Industries during the second quarter worth $1,033,376,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after buying an additional 775,097 shares during the period. Vanguard Group Inc. lifted its stake in Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock worth $225,263,000 after acquiring an additional 6,419 shares in the last quarter. State Street Corp lifted its stake in Powell Industries by 0.9% during the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after acquiring an additional 3,159 shares in the last quarter. Finally, Voss Capital LP boosted its holdings in Powell Industries by 18.6% during the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after acquiring an additional 55,000 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.