Powell Industries (NASDAQ:POWL) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Powell Industries Stock Performance

POWL opened at $219.09 on Tuesday. Powell Industries has a 1 year low of $72.51 and a 1 year high of $223.96. The firm has a 50 day moving average price of $168.46 and a 200 day moving average price of $158.74. The company has a market cap of $2.63 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. During the same quarter last year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, sell-side analysts predict that Powell Industries will post 12.01 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th were paid a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.48%. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brett Alan Cope sold 2,750 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of Powell Industries stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,100 shares of company stock worth $7,563,552. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries during the second quarter worth $47,000. Quarry LP bought a new position in shares of Powell Industries in the 2nd quarter worth about $48,000. Plato Investment Management Ltd acquired a new position in shares of Powell Industries in the 1st quarter valued at about $50,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Powell Industries during the 2nd quarter valued at about $72,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

About Powell Industries

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.