Powell Industries (NASDAQ:POWL) Shares Down 8.8% – What’s Next?

Shares of Powell Industries, Inc. (NASDAQ:POWL) were down 8.8% during trading on Friday . The stock traded as low as $285.00 and last traded at $282.0810. Approximately 132,492 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 735,933 shares. The stock had previously closed at $309.20.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Glj Research assumed coverage on shares of Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Powell Industries presently has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Powell Industries Trading Down 6.1%

The stock has a fifty day moving average of $282.11 and a two-hundred day moving average of $201.53. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 56.83, a PEG ratio of 3.85 and a beta of 1.11.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million for the quarter, compared to the consensus estimate of $298.12 million. During the same quarter in the previous year, the company posted $3.81 EPS. Powell Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that Powell Industries, Inc. will post 5.47 earnings per share for the current year.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. Powell Industries’s dividend payout ratio is currently 7.05%.

Insider Activity at Powell Industries

In other Powell Industries news, Director Richard E. Williams sold 5,250 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the transaction, the director owned 39,630 shares of the company’s stock, valued at approximately $11,856,899.70. This represents a 11.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $301.00, for a total value of $1,336,440.00. Following the transaction, the chief executive officer directly owned 490,113 shares in the company, valued at approximately $147,524,013. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 25,630 shares of company stock worth $6,339,195. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after purchasing an additional 775,097 shares during the last quarter. First Trust Advisors LP boosted its stake in Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after acquiring an additional 244,051 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Powell Industries during the 3rd quarter worth $43,515,000. Rock Creek Group LP grew its holdings in Powell Industries by 1,900.0% during the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after acquiring an additional 142,500 shares during the period. Finally, Voss Capital LP raised its position in shares of Powell Industries by 59.6% during the 3rd quarter. Voss Capital LP now owns 295,000 shares of the industrial products company’s stock valued at $89,919,000 after acquiring an additional 110,140 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Company Profile

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.