Powell Industries (NASDAQ:POWL) Trading Up 3.7% – Still a Buy?

Powell Industries, Inc. (NASDAQ:POWL)’s share price rose 3.7% on Tuesday . The company traded as high as $192.67 and last traded at $193.6910. Approximately 96,453 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 787,460 shares. The stock had previously closed at $186.72.

Wall Street Analyst Weigh In

POWL has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on Powell Industries from $142.33 to $160.33 and gave the company a “neutral” rating in a report on Thursday, February 5th. Glj Research initiated coverage on Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Texas Capital upgraded Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.33.

Powell Industries Stock Up 6.4%

The stock has a 50 day simple moving average of $61.20 and a 200 day simple moving average of $46.28. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.38 and a beta of 0.81.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.18. The company had revenue of $251.18 million for the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, equities research analysts expect that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, February 18th. Powell Industries’s payout ratio is currently 7.02%.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction dated 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. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ping Ni sold 210 shares of Powell Industries stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.67, for a total value of $41,300.00. Following the sale, the insider directly owned 6,069 shares in the company, valued at approximately $1,193,570. The trade was a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 244,248 shares of company stock valued at $43,496,270 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Truist Financial Corp increased its position in shares of Powell Industries by 42.9% during the third quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock worth $4,585,000 after acquiring an additional 4,519 shares during the last quarter. Tema Etfs LLC increased its position in shares of Powell Industries by 281.6% during the third quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after acquiring an additional 39,238 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Powell Industries by 6.5% in the third quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock valued at $27,332,000 after buying an additional 5,455 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Powell Industries by 32.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock valued at $17,961,000 after buying an additional 14,013 shares during the last quarter. Finally, Littlejohn Financial Services Inc. bought a new stake in Powell Industries in the third quarter valued at about $1,078,000. 89.77% of the stock is owned by hedge funds and other 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.