Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update

Powell Industries, Inc. (NASDAQ:POWL) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 1,233,804 shares, a decrease of 13.7% from the December 31st total of 1,429,864 shares. Based on an average trading volume of 274,910 shares, the days-to-cover ratio is presently 4.5 days. Currently, 10.4% of the company’s stock are sold short. Currently, 10.4% of the company’s stock are sold short. Based on an average trading volume of 274,910 shares, the days-to-cover ratio is presently 4.5 days.

Insider Buying and Selling

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at $1,476,530.23. This trade represents a 40.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in POWL. Avanza Fonder AB bought a new stake in Powell Industries during the 4th quarter valued at $30,000. First Horizon Corp acquired a new position in shares of Powell Industries during the fourth quarter valued at $40,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Powell Industries during the second quarter valued at about $33,000. State of Wyoming acquired a new stake in Powell Industries in the second quarter worth about $33,000. Finally, Manchester Capital Management LLC grew its position in Powell Industries by 42.9% in the 2nd 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 in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Trading Up 5.2%

POWL traded up $22.96 during trading on Tuesday, reaching $463.32. 78,566 shares of the company were exchanged, compared to its average volume of 273,999. Powell Industries has a 52 week low of $146.02 and a 52 week high of $471.79. The firm has a 50 day moving average of $364.66 and a 200 day moving average of $319.89. The stock has a market cap of $5.62 billion, a P/E ratio of 31.20, a PEG ratio of 2.05 and a beta of 0.85.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Cantor Fitzgerald started coverage on shares of Powell Industries in a research note on Friday, January 23rd. They set a “neutral” rating and a $427.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Powell Industries has a consensus rating of “Moderate Buy” and a consensus target price of $388.50.

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.