Powell Industries (NASDAQ:POWL) Trading Up 5.6%

Powell Industries, Inc. (NASDAQ:POWL)’s share price was up 5.6% during mid-day trading on Monday . The stock traded as high as $169.70 and last traded at $168.92. Approximately 57,139 shares traded hands during trading, a decline of 83% from the average daily volume of 330,825 shares. The stock had previously closed at $159.95.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Powell Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st.

Powell Industries Trading Up 1.0 %

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.26 and a beta of 0.79. The stock’s 50-day moving average is $148.18 and its 200-day moving average is $113.55.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $201.45 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. As a group, analysts predict that Powell Industries, Inc. will post 9.04 EPS for the current year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.265 per share. This is an increase from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, May 14th. This represents a $1.06 annualized dividend and a dividend yield of 0.66%. Powell Industries’s payout ratio is currently 12.59%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the sale, the insider now owns 714,643 shares in the company, valued at approximately $108,168,364.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares of the company’s stock, valued at approximately $108,168,364.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $167.46, for a total value of $1,674,600.00. Following the completion of the sale, the insider now directly owns 1,703,628 shares of the company’s stock, valued at $285,289,544.88. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $4,850,830 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of institutional investors and hedge funds have recently modified their holdings of POWL. AJOVista LLC purchased a new position in Powell Industries in the fourth quarter valued at approximately $29,000. Covestor Ltd lifted its position in shares of Powell Industries by 121.1% during the 3rd quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock valued at $66,000 after buying an additional 436 shares during the last quarter. Diversified Trust Co bought a new position in shares of Powell Industries during the 1st quarter worth $212,000. Mutual of America Capital Management LLC bought a new position in shares of Powell Industries during the 1st quarter worth $226,000. Finally, Triasima Portfolio Management inc. purchased a new stake in Powell Industries in the 1st quarter worth about $230,000. 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.