Powell Industries, Inc. (NASDAQ:POWL) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 187,600 shares, a decrease of 9.9% from the August 31st total of 208,100 shares. Based on an average trading volume of 58,200 shares, the short-interest ratio is presently 3.2 days. Currently, 2.1% of the shares of the stock are sold short.
A number of brokerages have weighed in on POWL. Sidoti downgraded shares of Powell Industries from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 11th. BidaskClub cut shares of Powell Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 17th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.00.
NASDAQ POWL traded up $0.61 during trading hours on Friday, hitting $24.60. 45,639 shares of the company’s stock traded hands, compared to its average volume of 69,897. Powell Industries has a 52-week low of $15.62 and a 52-week high of $50.81. The company has a market capitalization of $285.73 million, a PE ratio of 14.14 and a beta of 1.29. The firm’s 50-day moving average is $26.01 and its 200-day moving average is $25.69.
Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.05). Powell Industries had a net margin of 3.66% and a return on equity of 6.63%. The business had revenue of $118.06 million for the quarter.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.04 annualized dividend and a yield of 4.23%.
A number of large investors have recently bought and sold shares of POWL. Deutsche Bank AG raised its position in Powell Industries by 1,639.2% in the first quarter. Deutsche Bank AG now owns 118,839 shares of the industrial products company’s stock valued at $3,051,000 after purchasing an additional 112,006 shares during the period. JPMorgan Chase & Co. raised its position in Powell Industries by 40.9% in the first quarter. JPMorgan Chase & Co. now owns 347,483 shares of the industrial products company’s stock valued at $8,920,000 after purchasing an additional 100,834 shares during the period. AQR Capital Management LLC raised its position in Powell Industries by 1,412.0% in the first quarter. AQR Capital Management LLC now owns 99,490 shares of the industrial products company’s stock valued at $2,554,000 after purchasing an additional 92,910 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Powell Industries in the second quarter valued at $2,512,000. Finally, WINTON GROUP Ltd raised its position in Powell Industries by 723.6% in the second quarter. WINTON GROUP Ltd now owns 66,091 shares of the industrial products company’s stock valued at $1,810,000 after purchasing an additional 58,066 shares during the period. Institutional investors own 68.00% of the company’s stock.
Powell Industries Company Profile
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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