Powell Industries (NASDAQ:POWL) Shares Down 8.6%

Shares of Powell Industries, Inc. (NASDAQ:POWL) were down 8.6% on Thursday . The stock traded as low as $154.84 and last traded at $155.47. Approximately 143,229 shares traded hands during trading, a decline of 57% from the average daily volume of 330,052 shares. The stock had previously closed at $170.01.

Analyst Ratings Changes

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

Powell Industries Trading Down 0.4 %

The company has a market cap of $1.92 billion, a PE ratio of 19.00, a P/E/G ratio of 1.27 and a beta of 0.79. The firm’s 50-day simple moving average is $148.18 and its two-hundred day simple moving average is $113.08.

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

Powell Industries Increases Dividend

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

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares in the company, valued at approximately $108,168,364.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction dated 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 owns 714,643 shares in the company, valued at approximately $108,168,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher E. Cragg sold 9,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $155.13, for a total value of $1,396,170.00. Following the completion of the sale, the director now owns 12,360 shares in the company, valued at approximately $1,917,406.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Institutional investors have recently made changes to their positions in the company. AJOVista LLC acquired a new stake in Powell Industries during the fourth quarter valued at $29,000. Covestor Ltd increased its stake in shares of Powell Industries by 121.1% in the 3rd quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 436 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Powell Industries in the 3rd quarter worth about $137,000. Invst LLC purchased a new position in Powell Industries during the fourth quarter worth approximately $161,000. Finally, Private Trust Co. NA acquired a new stake in Powell Industries in the fourth quarter valued at approximately $192,000. 89.77% of the stock is owned by hedge funds and other 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.