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 report published on Saturday.

A number of other brokerages have also recently issued reports on POWL. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Cantor Fitzgerald boosted their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Roth Mkm reaffirmed a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Glj Research started coverage on shares of Powell Industries in a report on Thursday. They set a “hold” rating and a $450.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $427.00.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $483.65 on Friday. The business’s fifty day moving average price is $465.25 and its two-hundred day moving average price is $369.92. Powell Industries has a fifty-two week low of $152.40 and a fifty-two week high of $612.50. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

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

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be issued a $0.27 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is presently 7.02%.

Insider Activity at Powell Industries

In related news, Treasurer David L. Eckenrode sold 295 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $570.00, for a total transaction of $168,150.00. Following the transaction, the treasurer owned 443 shares in the company, valued at $252,510. This represents a 39.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ping Ni sold 70 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $590.00, for a total transaction of $41,300.00. Following the sale, the insider directly owned 2,023 shares in the company, valued at approximately $1,193,570. This represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,158 shares of company stock worth $17,160,352 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Hedge funds have recently modified their holdings of the stock. Truist Financial Corp boosted its stake in shares of Powell Industries by 42.9% in the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after purchasing an additional 4,519 shares during the last quarter. Tema Etfs LLC grew its position in shares of Powell Industries by 281.6% during the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after buying an additional 39,238 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Powell Industries by 6.5% during the third quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock worth $27,332,000 after buying an additional 5,455 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Powell Industries by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock worth $17,961,000 after buying an additional 14,013 shares during the last quarter. Finally, Littlejohn Financial Services Inc. acquired a new position in Powell Industries in the third quarter valued at approximately $1,078,000. 89.77% of the stock is owned by institutional investors.

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.