Powell Industries, Inc. (NASDAQ:POWL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Powell Industries, Inc. (NASDAQ:POWL) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $215.4167.

POWL has been the topic of a number of analyst reports. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price objective on Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald reduced their target price on shares of Powell Industries from $320.00 to $235.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Zacks Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th.

Insider Activity

In related news, CEO Brett Alan Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 33,958 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $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. Over the last 90 days, insiders sold 42,898 shares of company stock worth $12,353,653. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP grew its holdings in shares of Powell Industries by 179.8% during the second quarter. Corient Private Wealth LP now owns 3,347 shares of the industrial products company’s stock worth $959,000 after purchasing an additional 2,151 shares during the last quarter. Amundi raised its holdings in shares of Powell Industries by 162.4% in the second quarter. Amundi now owns 7,282 shares of the industrial products company’s stock valued at $2,085,000 after buying an additional 4,507 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Powell Industries by 66.7% in the second quarter. HighTower Advisors LLC now owns 3,249 shares of the industrial products company’s stock valued at $930,000 after buying an additional 1,300 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Powell Industries during the 2nd quarter worth about $2,623,000. Finally, Carlson Financial Inc. grew its holdings in Powell Industries by 199.2% during the 2nd quarter. Carlson Financial Inc. now owns 1,978 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 1,317 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Trading Up 0.4%

NASDAQ POWL opened at $192.55 on Friday. The stock’s 50 day moving average is $231.07 and its two-hundred day moving average is $231.46. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 2.56 and a beta of 1.18. Powell Industries has a 1-year low of $83.85 and a 1-year high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The company had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 earnings per share. On average, analysts predict that Powell Industries will post 5.36 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently disclosed 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 of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio (DPR) is presently 6.91%.

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.