Powell Industries (NASDAQ:POWL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a buy rating in a report released on Friday morning.

Several other research firms have also weighed in on POWL. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Down 6.5 %

NASDAQ POWL opened at $228.83 on Friday. Powell Industries has a twelve month low of $122.00 and a twelve month high of $364.98. The firm has a market capitalization of $2.76 billion, a PE ratio of 17.38, a P/E/G ratio of 1.28 and a beta of 0.87. The stock’s 50 day moving average is $249.01 and its 200 day moving average is $231.17.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 36.66% and a net margin of 15.15%. On average, research analysts anticipate that Powell Industries will post 13.7 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.47%. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries’s payout ratio is 8.12%.

Institutional Investors Weigh In On Powell Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance boosted its holdings in Powell Industries by 20.6% in the fourth quarter. Independent Advisor Alliance now owns 20,042 shares of the industrial products company’s stock worth $4,442,000 after acquiring an additional 3,421 shares in the last quarter. Amundi purchased a new position in shares of Powell Industries in the fourth quarter worth $1,001,000. PNC Financial Services Group Inc. raised its stake in shares of Powell Industries by 10.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 979 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 90 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Powell Industries in the fourth quarter worth $22,556,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Powell Industries in the fourth quarter worth $3,095,000. 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.