Powell Industries (NASDAQ:POWL) Hits New 1-Year High – Here’s Why

Powell Industries, Inc. (NASDAQ:POWL)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $414.80 and last traded at $409.4010, with a volume of 7054 shares changing hands. The stock had previously closed at $401.27.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on POWL shares. Wall Street Zen raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $350.00.

Powell Industries Stock Performance

The company has a market cap of $5.10 billion, a PE ratio of 28.28, a PEG ratio of 1.90 and a beta of 0.86. The stock’s 50 day moving average price is $340.41 and its 200-day moving average price is $301.87.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The company had revenue of $297.98 million during the quarter, compared to analysts’ expectations of $292.85 million. During the same period in the prior year, the business posted $3.77 EPS. Powell Industries’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.2675 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.3%. Powell Industries’s dividend payout ratio is presently 7.21%.

Insider Activity

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the completion of the transaction, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of POWL. Kovitz Investment Group Partners LLC lifted its holdings in Powell Industries by 42.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after buying an additional 686,588 shares during the period. First Trust Advisors LP raised its holdings in shares of Powell Industries by 65.8% during the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after acquiring an additional 244,051 shares in the last quarter. Voss Capital LP purchased a new stake in Powell Industries in the second quarter worth $38,904,000. Summit Partners Public Asset Management LLC purchased a new stake in Powell Industries in the third quarter worth $43,515,000. Finally, Fisher Asset Management LLC boosted its holdings in Powell Industries by 49.8% in the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock valued at $91,594,000 after acquiring an additional 99,857 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.