Powell Industries (NASDAQ:POWL) Cut to “Hold” at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen cut shares of Powell Industries (NASDAQ:POWL – Free Report) from a buy rating to a hold rating in a research report released on Monday.
POWL has been the subject of a number of other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Roth Mkm reiterated a “buy” rating and issued a $350.00 price target 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, Powell Industries has an average rating of “Buy” and a consensus price target of $350.00.
Check Out Our Latest Report on Powell Industries
Powell Industries Price Performance
Shares of Powell Industries stock opened at $421.85 on Monday. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.00 and a beta of 0.86. The firm’s 50-day moving average is $343.95 and its two-hundred day moving average is $306.82. Powell Industries has a 1 year low of $146.02 and a 1 year high of $446.11.
Powell Industries (NASDAQ:POWL – Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The business had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the previous year, the business posted $3.77 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Powell Industries will post 13.71 earnings per share for the current year.
Powell Industries Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.3%. Powell Industries’s dividend payout ratio is presently 7.21%.
Insider Buying and Selling 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 stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president directly owned 4,451 shares in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Powell Industries
Several institutional investors and hedge funds have recently made changes to their positions in POWL. Royal Bank of Canada increased its position in shares of Powell Industries by 1.5% in the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC grew its stake in Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after purchasing an additional 461 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Powell Industries by 1,221.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 1,311 shares during the period. Finally, Strs Ohio purchased a new position in shares of Powell Industries in the first quarter worth about $290,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.
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.