StockNews.com Upgrades Powell Industries (NASDAQ:POWL) to Buy

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a buy rating in a research note issued to investors on Sunday.

Several other equities research analysts also recently commented on the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock.

Powell Industries Stock Performance

POWL opened at $177.25 on Friday. Powell Industries has a 1 year low of $122.00 and a 1 year high of $364.98. The company’s 50 day simple moving average is $236.27 and its 200 day simple moving average is $234.94. The stock has a market capitalization of $2.14 billion, a PE ratio of 13.46, a P/E/G ratio of 0.98 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. As a group, sell-side analysts expect that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 annualized dividend and a yield of 0.60%. Powell Industries’s payout ratio is presently 8.12%.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently made changes to their positions in POWL. Principal Securities Inc. bought a new position in Powell Industries in the 4th quarter worth about $26,000. Hollencrest Capital Management bought a new position in Powell Industries in the 3rd quarter worth approximately $30,000. Quest Partners LLC bought a new position in shares of Powell Industries in the third quarter worth $35,000. Smartleaf Asset Management LLC grew its stake in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 132 shares in the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 99 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Powell Industries Company Profile

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.