Powell Industries (NASDAQ:POWL) Stock Price Up 4.3% – Here’s Why

Powell Industries, Inc. (NASDAQ:POWL) shares rose 4.3% during trading on Friday . The stock traded as high as $247.50 and last traded at $250.51. Approximately 33,144 shares traded hands during trading, a decline of 91% from the average daily volume of 385,042 shares. The stock had previously closed at $240.16.

Powell Industries Stock Up 3.4%

The company’s fifty day moving average is $197.92 and its 200 day moving average is $196.87. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.25 and a beta of 0.77.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.47. The firm had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.75 earnings per share. On average, equities research analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Wednesday, May 21st. Powell Industries’s dividend payout ratio is currently 7.52%.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Alan Cope sold 6,775 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the completion of the sale, the chief executive officer owned 147,471 shares in the company, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the completion of the sale, the executive vice president owned 28,900 shares of the company’s stock, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,308 shares of company stock valued at $3,574,755. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of large investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in shares of Powell Industries by 2.7% during the 1st quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock worth $498,000 after buying an additional 77 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Powell Industries by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,421 shares of the industrial products company’s stock worth $537,000 after buying an additional 87 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Powell Industries by 123.8% during the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company’s stock worth $40,000 after buying an additional 99 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Powell Industries by 3.7% during the 4th quarter. Two Sigma Investments LP now owns 2,904 shares of the industrial products company’s stock worth $644,000 after buying an additional 104 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Powell Industries by 168.8% during the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after buying an additional 108 shares during the last quarter. 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.