Powell Industries (NASDAQ:POWL) Reaches New 52-Week High – Here’s Why
by Michael Walen · The Markets DailyPowell Industries, Inc. (NASDAQ:POWL – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $212.00 and last traded at $218.9510, with a volume of 12159 shares traded. The stock had previously closed at $201.70.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Texas Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Cantor Fitzgerald lifted their target price on shares of Powell Industries from $142.33 to $160.33 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Glj Research assumed coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.33.
Powell Industries Trading Up 6.0%
The company’s 50 day moving average price is $177.20 and its two-hundred day moving average price is $136.94. The firm has a market cap of $2.59 billion, a PE ratio of 14.04, a PEG ratio of 2.38 and a beta of 0.81.
Powell Industries (NASDAQ:POWL – Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.18. The business had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. Equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.
Powell Industries Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 18th. Powell Industries’s dividend payout ratio (DPR) is currently 7.02%.
Insider Buying and Selling at Powell Industries
In other news, Treasurer David L. Eckenrode sold 885 shares of Powell Industries stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $190.00, for a total transaction of $168,150.00. Following the transaction, the treasurer owned 1,329 shares in the company, valued at $252,510. This trade represents a 39.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $168.27, for a total transaction of $747,104.00. Following the transaction, the chief executive officer owned 507,873 shares in the company, valued at $85,458,096.80. This represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 244,248 shares of company stock worth $43,496,270. Insiders own 2.20% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Greenline Wealth Management LLC purchased a new position in shares of Powell Industries during the 4th quarter valued at $29,000. Avanza Fonder AB purchased a new position in shares of Powell Industries during the 4th quarter valued at $30,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after buying an additional 63 shares in the last quarter. First Horizon Corp purchased a new position in shares of Powell Industries during the 4th quarter valued at $40,000. Finally, Larson Financial Group LLC lifted its stake in shares of Powell Industries by 12,800.0% during the 4th quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Powell Industries Company Profile
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.