Powell Industries (NASDAQ:POWL) Sets New 52-Week High – Time to Buy?

Powell Industries, Inc. (NASDAQ:POWL) shares hit a new 52-week high on Wednesday . The company 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 brokerages have recently issued reports on POWL. Roth Mkm reiterated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Finally, Cantor Fitzgerald initiated coverage on Powell Industries in a research note on Friday, January 23rd. They set a “neutral” rating and a $427.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.50.

Powell Industries Trading Down 0.3%

The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The company’s 50-day moving average is $352.21 and its 200-day moving average is $313.49.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $3.77 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, November 19th. Powell Industries’s dividend payout ratio (DPR) is currently 7.21%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avanza Fonder AB bought a new position in Powell Industries during the fourth quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC bought a new position in shares of Powell Industries in the 2nd quarter worth about $33,000. State of Wyoming purchased a new position in Powell Industries during the second quarter valued at $33,000. First Horizon Corp bought a new position in shares of Powell Industries in the fourth quarter worth approximately $40,000. Finally, Manchester Capital Management LLC raised its position 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 buying an additional 60 shares during the last quarter. 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.