Powell Industries (NASDAQ:POWL) Shares Down 6%

Shares of Powell Industries, Inc. (NASDAQ:POWL) dropped 6% during trading on Thursday . The company traded as low as $127.50 and last traded at $127.50. Approximately 62,578 shares were traded during trading, a decline of 82% from the average daily volume of 342,034 shares. The stock had previously closed at $135.61.

Analyst Ratings Changes

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

Powell Industries Trading Down 2.0 %

The stock has a 50 day moving average of $159.84 and a 200-day moving average of $144.26. The stock has a market capitalization of $1.59 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.86. The firm had revenue of $255.10 million during the quarter, compared to analyst estimates of $201.45 million. Powell Industries had a net margin of 12.05% and a return on equity of 27.93%. The business’s revenue was up 48.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. Research analysts anticipate that Powell Industries, Inc. will post 9.04 EPS for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.80%. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries 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 completion of the sale, the chief executive officer now directly owns 148,737 shares of the company’s stock, valued at approximately $21,166,762.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the 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 transaction, the chief executive officer now owns 148,737 shares of the company’s stock, valued at approximately $21,166,762.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thomas W. Powell sold 20,000 shares of Powell Industries stock in a transaction dated 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 owns 1,668,628 shares of the company’s stock, valued at $343,520,446.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,650 shares of company stock worth $6,472,034. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of POWL. AJOVista LLC purchased a new stake in Powell Industries during the fourth quarter worth $29,000. GAMMA Investing LLC boosted its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Powell Industries during the first quarter valued at about $50,000. Invst LLC purchased a new position in Powell Industries in the fourth quarter valued at about $161,000. Finally, Private Trust Co. NA bought a new position in Powell Industries in the fourth quarter worth about $192,000. 89.77% of the stock is currently owned by institutional investors.

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.