Powell Industries, Inc. (NASDAQ:POWL) to Issue $0.09 Quarterly Dividend

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Wednesday, May 20th will be paid a dividend of 0.09 per share by the industrial products company on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, May 20th.

Powell Industries has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Powell Industries has a payout ratio of 2.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $6.23 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.8%.

Powell Industries Trading Up 9.2%

POWL stock traded up $24.95 during trading hours on Tuesday, hitting $294.90. 1,352,903 shares of the stock traded hands, compared to its average volume of 776,473. The stock has a 50-day simple moving average of $199.57 and a 200 day simple moving average of $153.81. Powell Industries has a one year low of $54.75 and a one year high of $312.00. The company has a market cap of $10.74 billion, a P/E ratio of 57.48, a P/E/G ratio of 3.53 and a beta of 1.14.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. During the same period in the prior year, the business earned $3.81 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts forecast that Powell Industries will post 5.57 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the completion of the sale, the executive vice president directly owned 83,400 shares of the company’s stock, valued at approximately $14,678,400. This represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Treasurer David L. Eckenrode sold 885 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $190.00, for a total value of $168,150.00. Following the completion of the sale, the treasurer directly owned 1,329 shares of the company’s stock, valued at approximately $252,510. This represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 248,688 shares of company stock worth $44,535,053. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently bought and sold shares of the business. Truist Financial Corp lifted its stake in Powell Industries by 42.9% in the 3rd quarter. Truist Financial Corp now owns 15,041 shares of the industrial products company’s stock worth $4,585,000 after acquiring an additional 4,519 shares in the last quarter. Tema Etfs LLC raised its stake in shares of Powell Industries by 281.6% during the 3rd quarter. Tema Etfs LLC now owns 53,170 shares of the industrial products company’s stock worth $16,207,000 after purchasing an additional 39,238 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Powell Industries by 6.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 89,669 shares of the industrial products company’s stock worth $27,332,000 after purchasing an additional 5,455 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Powell Industries by 32.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,620 shares of the industrial products company’s stock worth $17,961,000 after purchasing an additional 14,013 shares in the last quarter. Finally, Littlejohn Financial Services Inc. purchased a new stake in shares of Powell Industries during the 3rd quarter worth about $1,078,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.