Powell Industries (NASDAQ:POWL) Trading 5.6% Higher

Powell Industries, Inc. (NASDAQ:POWL)’s stock price rose 5.6% during mid-day trading on Monday . The stock traded as high as $169.70 and last traded at $168.92. Approximately 57,139 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 330,825 shares. The stock had previously closed at $159.95.

Wall Street Analysts Forecast Growth

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

Powell Industries Price Performance

The firm has a fifty day moving average price of $148.18 and a two-hundred day moving average price of $113.55. The stock has a market capitalization of $1.94 billion, a PE ratio of 20.15, a P/E/G ratio of 1.26 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $201.45 million. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, research analysts expect that Powell Industries, Inc. will post 9.04 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared 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. This represents a $1.06 annualized dividend and a dividend yield of 0.66%. This is an increase 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%.

Insider Transactions at Powell Industries

In other Powell Industries news, Director Christopher E. Cragg sold 9,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $155.13, for a total transaction of $1,396,170.00. Following the transaction, the director now directly owns 12,360 shares in the company, valued at approximately $1,917,406.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total value of $871,900.00. Following the completion of the sale, the insider now owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher E. Cragg sold 9,000 shares of Powell Industries 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 transaction, the director now directly owns 12,360 shares in the company, valued at $1,917,406.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp grew its position in shares of Powell Industries by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after buying an additional 175 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Powell Industries in the first quarter worth $226,000. FORA Capital LLC acquired a new position in shares of Powell Industries during the first quarter worth $1,000,000. Daiwa Securities Group Inc. purchased a new stake in shares of Powell Industries during the 1st quarter valued at $450,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in Powell Industries during the 1st quarter valued at about $896,000. Institutional investors 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.