Powell Industries (NASDAQ:POWL) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Roth Capital reiterated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $350.00.

Powell Industries Stock Up 10.6%

POWL stock opened at $352.52 on Friday. Powell Industries has a twelve month low of $146.02 and a twelve month high of $413.00. The company has a market cap of $4.26 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. The business’s fifty day moving average is $340.81 and its 200-day moving average is $289.29.

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

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were given 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 0.3%. Powell Industries’s dividend payout ratio is currently 7.21%.

Insider Activity at Powell Industries

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 shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the sale, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Powell Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in Powell Industries during the second quarter worth $33,000. State of Wyoming bought a new stake in Powell Industries in the second quarter valued at approximately $33,000. Manchester Capital Management LLC raised its stake in Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after buying an additional 60 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Powell Industries in the second quarter valued at approximately $46,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Powell Industries during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds 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.