Powell Industries (NASDAQ:POWL) Sees Strong Trading Volume

Shares of Powell Industries, Inc. (NASDAQ:POWL) saw an uptick in trading volume on Tuesday . 100,914 shares changed hands during mid-day trading, a decline of 70% from the previous session’s volume of 332,118 shares.The stock last traded at $156.00 and had previously closed at $169.81.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th.

Powell Industries Trading Down 4.5 %

The stock has a market capitalization of $1.94 billion, a PE ratio of 18.86, a P/E/G ratio of 1.31 and a beta of 0.92. The stock has a 50 day moving average price of $160.75 and a 200-day moving average price of $133.89.

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

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.265 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, May 14th. Powell Industries’s dividend payout ratio is currently 12.59%.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 5,800 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.52, for a total value of $913,616.00. Following the completion of the sale, the executive vice president now directly owns 37,400 shares in the company, valued at approximately $5,891,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Powell Industries news, Director Katheryn Baucom Curtis sold 5,000 shares of Powell Industries 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 transaction, the director now owns 5,260 shares of the company’s stock, valued at $872,055.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael William Metcalf sold 5,800 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.52, for a total transaction of $913,616.00. Following the completion of the sale, the executive vice president now directly owns 37,400 shares of the company’s stock, valued at $5,891,248. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,900 shares of company stock worth $6,080,681. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its stake in shares of Powell Industries by 1.0% in the fourth quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company’s stock worth $3,260,000 after acquiring an additional 350 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Powell Industries by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,898 shares of the industrial products company’s stock valued at $6,621,000 after buying an additional 1,033 shares in the last quarter. Jetstream Capital LLC bought a new stake in shares of Powell Industries during the third quarter valued at approximately $2,902,000. Raymond James & Associates purchased a new position in shares of Powell Industries in the fourth quarter worth $1,085,000. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Powell Industries by 119.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 17,253 shares of the industrial products company’s stock worth $1,525,000 after acquiring an additional 9,393 shares during the last quarter. 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.