Powell Industries, Inc. (NASDAQ:POWL) Raises Dividend to $0.27 Per Share

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Wednesday, February 19th will be paid a dividend of 0.2675 per share by the industrial products company on Wednesday, March 19th. This represents a $1.07 annualized dividend and a yield of 0.44%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27.

Powell Industries has increased its dividend payment by an average of 0.6% annually over the last three years. Powell Industries has a dividend payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Powell Industries to earn $14.80 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 7.2%.

Powell Industries Price Performance

NASDAQ:POWL traded up $9.58 during midday trading on Wednesday, hitting $242.72. The company’s stock had a trading volume of 42,462 shares, compared to its average volume of 470,491. The firm has a market cap of $2.93 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.25 and a beta of 0.87. Powell Industries has a fifty-two week low of $122.00 and a fifty-two week high of $364.98. The firm’s 50 day moving average is $250.48 and its 200-day moving average is $229.03.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on POWL shares. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Roth Mkm started coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock.

Insider Transactions at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.20% 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.