Powell Industries (NASDAQ:POWL) Reaches New 12-Month High – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL) shares reached a new 52-week high during trading on Friday . The company traded as high as $367.48 and last traded at $364.56, with a volume of 178584 shares changing hands. The stock had previously closed at $341.64.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $312.00.

Powell Industries Price Performance

The firm has a market cap of $4.41 billion, a P/E ratio of 25.35, a PEG ratio of 1.75 and a beta of 0.82. The stock has a 50 day moving average of $295.27 and a 200 day moving average of $232.73.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. The business had revenue of $286.27 million for the quarter, compared to analysts’ expectations of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.79 earnings per share. On average, research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Powell Industries’s dividend payout ratio is currently 7.43%.

Insider Activity

In other news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the transaction, the director directly owned 6,700 shares in the company, valued at $1,742,201. This trade represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC bought a new position in shares of Powell Industries during the second quarter valued at about $33,000. State of Wyoming bought a new position in shares of Powell Industries during the second quarter valued at about $33,000. Brooklyn Investment Group boosted its holdings in shares of Powell Industries by 168.8% during the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of Powell Industries by 42.9% during the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 60 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of Powell Industries by 1,970.0% during the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 197 shares during the period. 89.77% of the stock is owned by institutional investors.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company’s principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.