Powell Industries, Inc. (NASDAQ:POWL) Given Consensus Rating of “Buy” by Analysts

Powell Industries, Inc. (NASDAQ:POWL) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $236.6667.

A number of analysts recently commented on the stock. Weiss Ratings cut shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 2,500 shares of Powell Industries stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the completion of the transaction, the vice president owned 10,853 shares of the company’s stock, valued at $3,513,007.57. The trade was a 18.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thomas W. Powell sold 33,958 shares of the company’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 owned 564,736 shares in the company, valued at approximately $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,088 shares of company stock worth $16,070,066 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

A number of large investors have recently modified their holdings of the company. Capital World Investors purchased a new position in Powell Industries during the fourth quarter worth about $20,704,000. Voss Capital LP increased its stake in Powell Industries by 18.6% in the 4th quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after acquiring an additional 55,000 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Powell Industries in the 4th quarter valued at about $2,137,000. Rock Creek Group LP raised its holdings in shares of Powell Industries by 1,900.0% in the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock valued at $47,817,000 after acquiring an additional 142,500 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Powell Industries during the 4th quarter valued at about $1,409,000. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Stock Down 0.1%

NASDAQ POWL opened at $208.46 on Monday. The company has a market cap of $7.59 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 2.73 and a beta of 1.18. Powell Industries has a 52 week low of $69.00 and a 52 week high of $328.00. The firm’s 50-day simple moving average is $263.99 and its two-hundred day simple moving average is $224.08.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. During the same quarter in the previous year, the business earned $3.81 EPS. Powell Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Powell Industries will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s payout ratio is presently 7.05%.

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.