Powell Industries (NASDAQ:POWL) Shares Down 8.6%

Powell Industries, Inc. (NASDAQ:POWL)’s stock price dropped 8.6% during trading 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 Analyst Weigh In

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

Powell Industries Stock Down 5.5 %

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

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.86. The business had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. Powell Industries had a net margin of 12.05% and a return on equity of 28.91%. The business’s revenue was up 48.8% on a year-over-year basis. During the same period last year, the firm posted $0.70 earnings per share. Analysts anticipate that Powell Industries, Inc. will post 7.54 EPS for the current fiscal year.

Powell Industries Increases Dividend

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

Insider Activity

In other news, major shareholder Thomas W. Powell sold 6,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 714,643 shares in the company, valued at $108,168,364.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Christopher E. Cragg sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total transaction of $1,396,170.00. Following the completion of the sale, the director now directly owns 12,360 shares in the company, valued at $1,917,406.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $4,850,830 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in 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 buying an additional 129,219 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Powell Industries during the 3rd quarter worth about $4,928,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Powell Industries by 169.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock worth $6,123,000 after purchasing an additional 46,413 shares during the period. American Century Companies Inc. increased its holdings in shares of Powell Industries by 79.8% during the 3rd quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock worth $8,444,000 after purchasing an additional 45,209 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Powell Industries by 621.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 47,187 shares of the industrial products company’s stock worth $3,912,000 after purchasing an additional 40,642 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.