Powell Industries (NASDAQ:POWL) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWLFree Report) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Powell Industries Stock Performance

NASDAQ POWL opened at $158.07 on Thursday. The firm has a 50-day simple moving average of $156.28 and a 200 day simple moving average of $129.04. Powell Industries has a twelve month low of $56.05 and a twelve month high of $209.14. The stock has a market cap of $1.90 billion, a PE ratio of 18.77, a PEG ratio of 1.24 and a beta of 0.92.

Powell Industries (NASDAQ:POWLGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.86. The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. Research analysts forecast that Powell Industries will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.265 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, May 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.67%. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the completion of the sale, the insider now owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Thomas W. Powell sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $205.87, for a total value of $4,117,400.00. Following the completion of the sale, the insider now owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Birchall sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $200.65, for a total transaction of $220,715.00. Following the completion of the sale, the director now directly owns 8,066 shares of the company’s stock, valued at approximately $1,618,442.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,100 shares of company stock valued at $5,167,065. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several institutional investors and hedge funds have recently made changes to their positions in POWL. FMR LLC raised its position in shares of Powell Industries by 1,377.9% during the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock valued at $11,490,000 after acquiring an additional 129,219 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Powell Industries by 169.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock valued at $6,123,000 after buying an additional 46,413 shares during the period. American Century Companies Inc. grew its holdings in shares of Powell Industries by 79.8% in the 3rd quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock valued at $8,444,000 after buying an additional 45,209 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of Powell Industries by 621.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 47,187 shares of the industrial products company’s stock valued at $3,912,000 after buying an additional 40,642 shares during the period. Finally, Jetstream Capital LLC acquired a new position in shares of Powell Industries in the 3rd quarter valued at $2,902,000. Institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

(Get Free Report)

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.

Further Reading

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