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

StockNews.com cut shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a research report report published on Saturday.

Other equities analysts have also recently issued reports about the company. Roth Capital raised Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target on the stock.

Powell Industries Price Performance

NASDAQ:POWL opened at $213.38 on Friday. The business has a 50 day moving average of $242.33 and a 200 day moving average of $233.21. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.28 and a beta of 0.87. Powell Industries has a 1-year low of $122.00 and a 1-year high of $364.98.

Powell Industries (NASDAQ:POWL) last released its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Powell Industries had a return on equity of 36.66% and a net margin of 15.15%. As a group, sell-side analysts anticipate that Powell Industries will post 13.7 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.50%. Powell Industries’s payout ratio is 8.05%.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Powell Industries by 15.2% during the fourth quarter. AQR Capital Management LLC now owns 62,314 shares of the industrial products company’s stock valued at $13,812,000 after buying an additional 8,216 shares during the period. Northern Trust Corp increased its stake in shares of Powell Industries by 15.7% during the fourth quarter. Northern Trust Corp now owns 116,823 shares of the industrial products company’s stock valued at $25,894,000 after buying an additional 15,864 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of Powell Industries by 388.3% during the fourth quarter. Beacon Pointe Advisors LLC now owns 5,030 shares of the industrial products company’s stock valued at $1,115,000 after buying an additional 4,000 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $359,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Powell Industries during the fourth quarter valued at approximately $490,000. 89.77% of the stock is owned by hedge funds and other 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.