Powell Industries (NASDAQ:POWL) Price Target Raised to $481.00

Powell Industries (NASDAQ:POWL) had its target price boosted by Cantor Fitzgerald from $427.00 to $481.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on POWL. Roth Mkm reiterated a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a report on Wednesday, November 19th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $415.50.

Powell Industries Stock Up 8.4%

Shares of POWL stock opened at $584.22 on Thursday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 2.66 and a beta of 0.85. Powell Industries has a 12 month low of $146.02 and a 12 month high of $588.84. The stock has a 50-day moving average price of $381.14 and a 200 day moving average price of $327.68.

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

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, February 18th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is 6.95%.

Insider Buying and Selling

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president owned 4,451 shares in the company, valued at $1,476,530.23. This represents a 40.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after acquiring an additional 775,097 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Powell Industries by 42.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after purchasing an additional 686,588 shares in the last quarter. First Trust Advisors LP raised its position in Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after purchasing an additional 244,051 shares during the last quarter. Voss Capital LP acquired a new stake in shares of Powell Industries during the second quarter valued at about $38,904,000. Finally, Summit Partners Public Asset Management LLC bought a new stake in shares of Powell Industries during the third quarter worth about $43,515,000. 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.