Powell Industries (NASDAQ:POWL) Hits New 12-Month High – Here’s Why

Powell Industries, Inc. (NASDAQ:POWL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $455.85 and last traded at $444.9880, with a volume of 56894 shares changing hands. The stock had previously closed at $442.28.

Analysts Set New Price Targets

Several analysts have recently issued reports on POWL shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 19th. Roth Mkm reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research note on Wednesday, November 19th. Finally, Cantor Fitzgerald assumed coverage on Powell Industries in a report on Friday, January 23rd. They set a “neutral” rating and a $427.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $388.50.

Powell Industries Price Performance

The firm has a fifty day moving average of $358.62 and a two-hundred day moving average of $315.39. The stock has a market capitalization of $5.39 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.05 and a beta of 0.86.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. The company had revenue of $297.98 million during the quarter, compared to the consensus estimate of $292.85 million. During the same quarter in the previous year, the firm posted $3.77 earnings per share. Powell Industries’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal 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. This represents a $1.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, November 19th. Powell Industries’s dividend payout ratio is presently 7.21%.

Insider Activity

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owned 4,451 shares in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Powell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Avanza Fonder AB acquired a new position in Powell Industries during the 4th quarter valued at about $30,000. First Horizon Corp purchased a new stake in shares of Powell Industries during the fourth quarter worth about $40,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Powell Industries during the second quarter valued at about $33,000. State of Wyoming purchased a new position in shares of Powell Industries in the 2nd quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC boosted its stake in Powell Industries by 42.9% in the 2nd quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 60 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.