Powell Industries (NASDAQ:POWL) Downgraded to Hold Rating by Wall Street Zen

Powell Industries (NASDAQ:POWL) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Capital reissued a “buy” rating and set a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $350.00.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $419.98 on Monday. The stock has a market capitalization of $5.10 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. The business has a fifty day moving average price of $340.41 and a 200 day moving average price of $303.10. Powell Industries has a 1-year low of $146.02 and a 1-year high of $446.11.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The company had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same period in the prior year, the company posted $3.77 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was 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 approximately $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Kovitz Investment Group Partners LLC grew its stake 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 valued at $705,475,000 after acquiring an additional 686,588 shares during the period. First Trust Advisors LP lifted its holdings in Powell Industries by 65.8% during 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 in the last quarter. State Street Corp lifted its holdings in Powell Industries by 0.9% during the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock valued at $74,100,000 after purchasing an additional 3,159 shares in the last quarter. Invesco Ltd. grew its position in shares of Powell Industries by 2.4% in the third quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock valued at $106,102,000 after purchasing an additional 8,083 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Powell Industries by 49.8% during the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock worth $91,594,000 after purchasing an additional 99,857 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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.