Powell Industries, Inc. (NASDAQ:POWL) Receives $236.67 Average Target Price from Brokerages

Powell Industries, Inc. (NASDAQ:POWL) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $236.6667.

POWL has been the subject of several analyst reports. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. JPMorgan Chase & Co. increased their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald increased their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Finally, Glj Research began coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $297.20 on Friday. The firm has a market cap of $10.83 billion, a P/E ratio of 58.16, a P/E/G ratio of 3.88 and a beta of 1.11. Powell Industries has a 12-month low of $56.70 and a 12-month high of $328.00. The business has a fifty day simple moving average of $276.56 and a 200 day simple moving average of $195.54.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.09). The company had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.81 earnings per share. As a group, equities research analysts expect that Powell Industries will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th were paid a $0.09 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is currently 7.05%.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $301.00, for a total value of $1,336,440.00. Following the completion of the sale, the chief executive officer directly owned 490,113 shares in the company, valued at $147,524,013. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP William Marshall Mauney, Jr. sold 2,500 shares of Powell Industries stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $323.69, for a total value of $809,225.00. Following the transaction, the vice president owned 10,853 shares of the company’s stock, valued at $3,513,007.57. This trade represents a 18.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,630 shares of company stock valued at $6,339,195. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently added to or reduced their stakes in the stock. NEOS Investment Management LLC increased its holdings in shares of Powell Industries by 281.6% in the third quarter. NEOS Investment Management LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after purchasing an additional 39,238 shares during the period. Legato Capital Management LLC bought a new position in shares of Powell Industries in the third quarter worth $693,000. Hel Ved Capital Management Ltd bought a new position in shares of Powell Industries in the third quarter worth $1,280,000. Hudson Bay Capital Management LP bought a new position in shares of Powell Industries in the third quarter worth $3,098,000. Finally, Capital World Investors bought a new position in shares of Powell Industries in the fourth quarter worth $20,704,000. Institutional investors and hedge funds 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.