Powell Industries (NASDAQ:POWL) Sets New 52-Week High – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $593.76 and last traded at $580.0250, with a volume of 15537 shares changing hands. The stock had previously closed at $584.22.

Analysts Set New Price Targets

POWL has been the subject of a number of research reports. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Monday, January 19th. Cantor Fitzgerald boosted their price target on Powell Industries from $427.00 to $481.00 and gave the stock a “neutral” rating in a research note on Thursday. Roth Mkm reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $415.50.

Powell Industries Trading Up 1.7%

The company has a market cap of $7.21 billion, a P/E ratio of 38.44, a PEG ratio of 2.66 and a beta of 0.85. The business’s 50 day simple moving average is $381.14 and its 200 day simple moving average is $328.33.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. During the same period in the prior year, the company posted $2.86 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.27 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.08 annualized dividend and a yield of 0.2%. Powell Industries’s dividend payout ratio is 6.95%.

Insider Activity

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the transaction, the vice president owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Powell Industries

Several large investors have recently added to or reduced their stakes in POWL. Truist Financial Corp lifted its holdings in shares of Powell Industries by 42.9% in the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after buying an additional 4,519 shares during the period. Tema Etfs LLC lifted its holdings in Powell Industries by 281.6% in the third quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock valued at $16,207,000 after acquiring an additional 39,238 shares during the period. Stephens Investment Management Group LLC boosted its position in Powell Industries by 6.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock worth $27,332,000 after purchasing an additional 5,455 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Powell Industries by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock worth $17,961,000 after purchasing an additional 14,013 shares during the period. Finally, Littlejohn Financial Services Inc. purchased a new position in shares of Powell Industries during the 3rd quarter valued at approximately $1,078,000. 89.77% of the stock is owned by institutional investors.

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.