Powell Industries, Inc. (POWL) to Issue Quarterly Dividend of $0.09 on June 17th

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, May 5th. Shareholders of record on Wednesday, May 20th will be paid a dividend of 0.09 per share by the industrial products company on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, May 20th.

Powell Industries has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Powell Industries has a payout ratio of 2.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Powell Industries to earn $6.23 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.8%.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $320.30 on Thursday. Powell Industries has a fifty-two week low of $54.75 and a fifty-two week high of $325.94. The business has a 50-day simple moving average of $204.60 and a two-hundred day simple moving average of $156.58. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 62.68, a price-to-earnings-growth ratio of 3.78 and a beta of 1.14.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to analysts’ expectations of $298.12 million. During the same period last year, the firm posted $3.81 EPS. Powell Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Powell Industries will post 5.57 earnings per share for the current year.

Insider Transactions at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 149,334 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares in the company, valued at $300,682,087.62. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40. Following the sale, the chief executive officer owned 164,851 shares of the company’s stock, valued at approximately $38,568,539.96. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 248,688 shares of company stock valued at $44,535,053. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Powell Industries

A number of large investors have recently made changes to their positions in POWL. Truist Financial Corp grew its stake in shares of Powell Industries by 42.9% during the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock valued at $4,585,000 after acquiring an additional 4,519 shares during the period. Tema Etfs LLC grew its stake in shares of Powell Industries by 281.6% during the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock valued at $16,207,000 after acquiring an additional 39,238 shares during the period. Stephens Investment Management Group LLC grew its stake in shares of Powell Industries by 6.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock valued at $27,332,000 after acquiring an additional 5,455 shares during the period. Littlejohn Financial Services Inc. bought a new position in shares of Powell Industries during the 3rd quarter valued at approximately $1,078,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Powell Industries by 17.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,315 shares of the industrial products company’s stock valued at $29,358,000 after acquiring an additional 14,210 shares during the period. 89.77% of the stock is currently owned by institutional investors.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.