Powell Industries (NASDAQ:POWL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a buy rating in a research report released on Saturday morning.

Several other brokerages also recently weighed in on POWL. Roth Capital reiterated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $331.00.

Powell Industries Price Performance

Shares of POWL stock opened at $300.08 on Friday. The business has a fifty day moving average of $329.97 and a 200 day moving average of $259.14. Powell Industries has a 1 year low of $146.02 and a 1 year high of $413.00. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same period in the prior year, the company earned $3.77 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that Powell Industries will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s payout ratio is 7.21%.

Insider Activity

In related news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the sale, the executive vice president directly owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of POWL. Kovitz Investment Group Partners LLC grew its position in shares of Powell Industries by 42.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after acquiring an additional 686,588 shares during the period. First Trust Advisors LP raised its holdings in Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after purchasing an additional 244,051 shares during the period. New Vernon Capital Holdings II LLC purchased a new position in Powell Industries during the first quarter worth approximately $34,554,000. Voss Capital LP purchased a new position in Powell Industries during the second quarter worth approximately $38,904,000. Finally, Summit Partners Public Asset Management LLC acquired a new stake in Powell Industries in the third quarter valued at approximately $43,515,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.