Powell Industries (NASDAQ:POWL) Stock Price Down 8.6%

Powell Industries, Inc. (NASDAQ:POWL)’s share price dropped 8.6% on Thursday . The stock traded as low as $154.84 and last traded at $155.47. Approximately 143,229 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 330,052 shares. The stock had previously closed at $170.01.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Down 0.4 %

The business’s 50 day moving average price is $148.18 and its two-hundred day moving average price is $113.08. The stock has a market cap of $1.92 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 EPS for the quarter, topping 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 business had revenue of $255.10 million during the quarter, compared to analyst estimates of $201.45 million. During the same period last year, the business posted $0.70 earnings per share. Powell Industries’s quarterly revenue was up 48.8% compared to the same quarter last year. As a group, analysts expect that Powell Industries, Inc. will post 9.04 earnings per share for the current year.

Powell Industries Increases Dividend

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

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction dated 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 transaction, 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 SEC, which is available at this hyperlink. In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the sale, the insider now directly owns 1,688,628 shares of the company’s stock, valued at $294,462,950.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares of the company’s stock, valued at $108,168,364.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Powell Industries

Institutional investors have recently bought and sold shares of the company. AJOVista LLC purchased a new stake in Powell Industries during the 4th quarter valued at $29,000. Covestor Ltd boosted its position in shares of Powell Industries by 121.1% during the third 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 purchased a new stake in shares of Powell Industries during the first quarter valued at $212,000. Mutual of America Capital Management LLC bought a new stake in Powell Industries in the 1st quarter worth about $226,000. Finally, Triasima Portfolio Management inc. purchased a new stake in shares of Powell Industries during the 1st quarter valued at 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.