Powell Industries (NASDAQ:POWL) Rating Increased to Sell at BidaskClub

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BidaskClub upgraded shares of Powell Industries (NASDAQ:POWL) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

POWL opened at $40.86 on Friday. The stock has a fifty day moving average of $37.10 and a 200-day moving average of $34.22. The firm has a market capitalization of $451.68 million, a P/E ratio of 83.08 and a beta of 1.26. Powell Industries has a 12-month low of $22.55 and a 12-month high of $40.96.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.24. The company had revenue of $135.60 million during the quarter, compared to analyst estimates of $132.31 million. Powell Industries had a return on equity of 1.87% and a net margin of 0.97%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%.

In other news, Director Bonnie V. Hancock sold 2,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $37.89, for a total value of $75,780.00. Following the completion of the sale, the director now owns 17,300 shares in the company, valued at $655,497. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in POWL. BNP Paribas Arbitrage SA lifted its holdings in shares of Powell Industries by 346.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,436 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Powell Industries by 45.2% in the second quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 750 shares during the last quarter. KBC Group NV acquired a new position in shares of Powell Industries in the second quarter worth $106,000. Aperio Group LLC acquired a new position in shares of Powell Industries in the second quarter worth $134,000. Finally, SG Americas Securities LLC acquired a new position in shares of Powell Industries in the first quarter worth $165,000. Institutional investors own 65.06% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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