Powell Industries (NASDAQ:POWL) Trading Down 13.4%

Powell Industries, Inc. (NASDAQ:POWL)’s share price dropped 13.4% on Thursday . The stock traded as low as $159.06 and last traded at $159.11. Approximately 514,537 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 355,576 shares. The stock had previously closed at $183.63.

Wall Street Analysts Forecast Growth

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

Powell Industries Trading Down 4.7 %

The firm’s fifty day moving average is $155.57 and its 200-day moving average is $147.14. The stock has a market capitalization of $1.84 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business had revenue of $288.17 million during the quarter, compared to analysts’ expectations of $222.18 million. During the same period last year, the business earned $1.52 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, equities analysts predict that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, August 14th. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

Insider Transactions at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the transaction, the chief executive officer now directly 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 SEC, which is accessible through this hyperlink. In other Powell Industries news, Director Katheryn Baucom Curtis sold 5,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $165.79, for a total transaction of $828,950.00. Following the sale, the director now directly owns 5,260 shares in the company, valued at approximately $872,055.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. Insiders sold a total of 34,650 shares of company stock worth $6,472,034 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Several large investors have recently bought and sold shares of POWL. Raymond James & Associates acquired a new position in shares of Powell Industries during the fourth quarter worth about $1,085,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Powell Industries in the 4th quarter valued at approximately $384,000. Private Trust Co. NA acquired a new stake in shares of Powell Industries in the 4th quarter valued at $192,000. New York State Teachers Retirement System lifted its position in shares of Powell Industries by 17.5% during the 4th quarter. New York State Teachers Retirement System now owns 8,108 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in Powell Industries by 119.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 17,253 shares of the industrial products company’s stock valued at $1,525,000 after buying an additional 9,393 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

About Powell Industries

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.