StockNews.com Lowers Powell Industries (NASDAQ:POWL) to Hold

StockNews.com cut shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a research report released on Friday morning.

Powell Industries Stock Performance

NASDAQ POWL opened at $246.01 on Friday. The company’s 50 day moving average price is $180.03 and its 200 day moving average price is $162.18. Powell Industries has a one year low of $72.51 and a one year high of $254.09. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.33 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $1.63. The company had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. Powell Industries’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. Sell-side analysts forecast that Powell Industries will post 12.01 EPS for the current fiscal year.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 annualized dividend and a yield of 0.43%. Powell Industries’s dividend payout ratio is presently 12.59%.

Insider Transactions at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the transaction, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the transaction, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the insider now owns 11,066 shares of the company’s stock, valued at $1,770,560. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,100 shares of company stock valued at $7,563,552. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of POWL. City Center Advisors LLC bought a new position in Powell Industries during the third quarter valued at about $461,000. Diversified Trust Co increased its position in shares of Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 115 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Powell Industries by 62.9% in the 3rd quarter. GAMMA Investing LLC now owns 466 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 180 shares in the last quarter. Cim LLC purchased a new stake in shares of Powell Industries in the second quarter valued at $222,000. Finally, Dana Investment Advisors Inc. acquired a new stake in Powell Industries during the 2nd quarter worth about $1,460,000. 89.77% of the stock is currently 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.