Powell Industries (NASDAQ:POWL) Shares Up 1.6%

Powell Industries, Inc. (NASDAQ:POWL)’s share price shot up 1.6% during trading on Monday . The stock traded as high as $156.99 and last traded at $155.85. 148,646 shares traded hands during trading, a decline of 58% from the average session volume of 357,692 shares. The stock had previously closed at $153.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 6th.

Powell Industries Trading Down 4.9 %

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The company has a fifty day moving average price of $153.74 and a 200-day moving average price of $149.15.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. The firm had revenue of $288.17 million during the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. As a group, sell-side analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, August 14th. Powell Industries’s payout ratio is 12.59%.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the completion of the sale, the insider now owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Thomas W. Powell sold 20,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $205.87, for a total value of $4,117,400.00. Following the completion of the sale, the insider now directly owns 1,668,628 shares in the company, valued at $343,520,446.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The disclosure for this sale can be found here. Insiders have sold a total of 30,650 shares of company stock worth $5,803,084 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp grew its stake in shares of Powell Industries by 8.1% in the second quarter. Texas Permanent School Fund Corp now owns 8,717 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 652 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Powell Industries in the 2nd quarter worth $140,000. Gallacher Capital Management LLC bought a new position in shares of Powell Industries during the 2nd quarter worth about $447,000. Los Angeles Capital Management LLC increased its holdings in shares of Powell Industries by 9.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 9,890 shares of the industrial products company’s stock worth $1,418,000 after purchasing an additional 859 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Powell Industries by 53.9% during the second quarter. Victory Capital Management Inc. now owns 8,086 shares of the industrial products company’s stock valued at $1,160,000 after buying an additional 2,833 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

About Powell Industries

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.