Powell Industries (NASDAQ:POWL) Shares Down 8.6%

Powell Industries, Inc. (NASDAQ:POWL) traded down 8.6% during mid-day trading on Thursday . The company traded as low as $154.84 and last traded at $155.47. 143,229 shares were traded during mid-day trading, a decline of 57% from the average session volume of 330,052 shares. The stock had previously closed at $170.01.

Analyst Ratings Changes

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

Powell Industries Trading Down 5.5 %

The stock’s 50-day moving average is $148.12 and its 200-day moving average is $112.20. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.35 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.86. Powell Industries had a net margin of 12.05% and a return on equity of 28.91%. The company had revenue of $255.10 million for the quarter, compared to the consensus estimate of $201.45 million. During the same quarter in the previous year, the company earned $0.70 EPS. Powell Industries’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 7.54 EPS for the current year.

Powell Industries Increases Dividend

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

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the transaction, the insider now owns 1,688,628 shares in the company, valued at approximately $294,462,950.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the sale, the insider now owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $4,850,830 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Powell Industries by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock worth $71,427,000 after acquiring an additional 9,177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Powell Industries by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 380,177 shares of the industrial products company’s stock worth $31,517,000 after acquiring an additional 31,989 shares in the last quarter. Invesco Ltd. grew its stake in shares of Powell Industries by 28.1% in the 3rd quarter. Invesco Ltd. now owns 156,952 shares of the industrial products company’s stock worth $13,011,000 after acquiring an additional 34,455 shares in the last quarter. FMR LLC grew its stake in shares of Powell Industries by 1,377.9% in the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock worth $11,490,000 after acquiring an additional 129,219 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Powell Industries by 23.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 128,017 shares of the industrial products company’s stock valued at $10,613,000 after purchasing an additional 24,354 shares during the last quarter. Institutional investors 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.