Powell Industries (NASDAQ:POWL) Trading Up 5.1% – Here’s What Happened

Shares of Powell Industries, Inc. (NASDAQ:POWL) were up 5.1% on Thursday . The company traded as high as $313.15 and last traded at $299.9820. Approximately 239,923 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 338,111 shares. The stock had previously closed at $285.29.

Wall Street Analyst Weigh In

Several brokerages have recently commented on POWL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research report on Wednesday. Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Powell Industries currently has a consensus rating of “Buy” and an average price target of $331.00.

Powell Industries Stock Performance

The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.95 and a beta of 0.81. The business has a 50 day simple moving average of $330.08 and a 200-day simple moving average of $256.33.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.46. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company had revenue of $297.98 million for the quarter, compared to analysts’ expectations of $292.85 million. During the same quarter in the previous year, the firm earned $3.77 earnings per share. Powell Industries’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries’s dividend payout ratio (DPR) is 7.21%.

Insider Buying and Selling

In other news, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the sale, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael William Metcalf sold 3,200 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the completion of the transaction, the executive vice president directly owned 25,700 shares in the company, valued at $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Powell Industries

Several large investors have recently modified their holdings of POWL. Elevation Point Wealth Partners LLC bought a new stake in shares of Powell Industries in the second quarter valued at $33,000. State of Wyoming purchased a new stake in Powell Industries during the second quarter valued at about $33,000. Brooklyn Investment Group increased its stake in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 108 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 60 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Powell Industries by 1,970.0% during the 1st quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company’s stock valued at $35,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors 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.