Powell Industries (NASDAQ:POWL) Downgraded by Wall Street Zen to Hold

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

Several other research analysts have also recently commented on POWL. Roth Capital reaffirmed a “buy” rating and set a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $350.00.

Powell Industries Stock Performance

Shares of Powell Industries stock opened at $419.98 on Monday. The firm has a 50-day moving average of $341.33 and a 200-day moving average of $304.53. Powell Industries has a 52-week low of $146.02 and a 52-week high of $446.11. The stock has a market cap of $5.10 billion, a PE ratio of 28.28, a PEG ratio of 1.97 and a beta of 0.86.

Powell Industries (NASDAQ:POWL) last released 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 for the quarter, compared to the consensus estimate of $292.85 million. During the same period in the prior year, the company posted $3.77 earnings per share. Powell Industries’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, November 19th. Powell Industries’s payout ratio is currently 7.21%.

Insiders Place Their Bets

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the sale, the vice president owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Trading of Powell Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC boosted its stake in Powell Industries by 2.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock valued at $319,000 after buying an additional 29 shares in the last quarter. State of Wyoming boosted its stake in shares of Powell Industries by 18.5% in the 3rd quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 29 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Powell Industries by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 30 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Powell Industries by 3.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 42 shares during the last quarter. Finally, Quest Investment Management LLC increased its position in Powell Industries by 0.9% during the 3rd quarter. Quest Investment Management LLC now owns 5,002 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 45 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

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.