Powell Industries Inc. (NASDAQ:POWL) dropped 8.1% during mid-day trading on Wednesday . The stock traded as low as $36.02 and last traded at $36.07, with a volume of 70,551 shares. The stock had previously closed at $39.23.

POWL has been the subject of several analyst reports. Zacks Investment Research lowered shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Sidoti lowered shares of Powell Industries from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Wednesday.

The stock has a market capitalization of $420.40 million and a P/E ratio of 23.12. The stock has a 50 day moving average of $36.76 and a 200-day moving average of $30.22.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, May 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.40. The company earned $152.27 million during the quarter, compared to analysts’ expectations of $142.73 million. During the same quarter last year, the firm earned $0.17 EPS. Powell Industries’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts predict that Powell Industries Inc. will post $1.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, May 18th were paid a $0.26 dividend. The ex-dividend date was Monday, May 16th. This represents a $1.04 annualized dividend and a yield of 2.87%.

In related news, Director Richard E. Williams bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $33.79 per share, for a total transaction of $33,790.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $101,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

An institutional investor recently raised its position in Powell Industries stock. Principal Financial Group Inc. raised its position in Powell Industries Inc. (NASDAQ:POWL) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 57,853 shares of the company’s stock after buying an additional 1,070 shares during the period. Principal Financial Group Inc. owned about 0.51% of Powell Industries worth $1,506,000 at the end of the most recent reporting period.

Powell Industries, Inc develops, designs, manufactures and services custom-engineered equipment and systems. The Company manufactures systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy and provide protection to motors, transformers and other electrically powered equipment.

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