Powell Industries (NASDAQ:POWL) Downgraded by StockNews.com

StockNews.com lowered shares of Powell Industries (NASDAQ:POWLFree Report) from a buy rating to a hold rating in a research note published on Wednesday.

Powell Industries Price Performance

Shares of POWL opened at $179.86 on Wednesday. The business’s fifty day moving average price is $154.69 and its 200 day moving average price is $127.17. Powell Industries has a 12-month low of $56.05 and a 12-month high of $209.14. The stock has a market capitalization of $2.16 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.79.

Powell Industries (NASDAQ:POWLGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The firm had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $201.45 million. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 48.8% on a year-over-year basis. As a group, research analysts anticipate that Powell Industries will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.59%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, May 14th. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, Director Katheryn Baucom Curtis sold 5,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $165.79, for a total value of $828,950.00. Following the sale, the director now directly owns 5,260 shares in the company, valued at $872,055.40. 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 currently owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently added to or reduced their stakes in the stock. AJOVista LLC bought a new stake in Powell Industries in the fourth quarter valued at $29,000. Plato Investment Management Ltd acquired a new position in shares of Powell Industries during the first quarter valued at $50,000. Covestor Ltd increased its holdings in shares of Powell Industries by 121.1% during the third quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 436 shares during the period. Caxton Associates LP acquired a new position in shares of Powell Industries during the first quarter valued at $212,000. Finally, Diversified Trust Co acquired a new position in shares of Powell Industries during the first quarter valued at $212,000. 89.77% of the stock is currently owned by institutional investors.

About Powell Industries

(Get Free Report)

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. 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, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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