Powell Industries (NASDAQ:POWL) Upgraded at Weiss Ratings

Key Points

• Powell Industries has been upgraded from a "hold (c+)" to a "buy (b-)" rating by Weiss Ratings, indicating improved investor confidence.
• The company reported quarterly earnings of $3.96 per share, exceeding analysts' expectations and demonstrating a return on equity of 33.16% despite a slight year-over-year revenue decline.
• Institutional investors hold 89.77% of Powell Industries' stock, highlighting significant interest and investment from financial institutions in the company's shares.

Powell Industries (NASDAQ:POWL - Get Free Report) was upgraded by Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Powell Industries Price Performance

POWL opened at $315.40 on Wednesday. The stock has a market cap of $3.81 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.50 and a beta of 0.82. The stock's 50 day simple moving average is $274.50 and its 200 day simple moving average is $219.50. Powell Industries has a 1-year low of $146.02 and a 1-year high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.23. The business had revenue of $286.27 million for the quarter, compared to analysts' expectations of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.79 EPS. Research analysts expect that Powell Industries will post 13.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Powell Industries news, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the sale, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This represents a 11.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Birchall sold 3,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the sale, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

Several hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its holdings in shares of Powell Industries by 3.6% during the second quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company's stock worth $257,000 after purchasing an additional 42 shares during the last quarter. Choreo LLC boosted its holdings in shares of Powell Industries by 4.4% during the second quarter. Choreo LLC now owns 1,340 shares of the industrial products company's stock worth $282,000 after purchasing an additional 56 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Powell Industries by 42.9% during the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company's stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Roman Butler Fullerton & Co. boosted its holdings in shares of Powell Industries by 1.7% during the second quarter. Roman Butler Fullerton & Co. now owns 3,663 shares of the industrial products company's stock worth $771,000 after purchasing an additional 62 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Powell Industries by 1.3% during the second quarter. Cetera Investment Advisers now owns 5,000 shares of the industrial products company's stock worth $1,052,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

About Powell Industries

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.

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