Powell Industries (NASDAQ:POWL) Trading 3.8% Higher

Shares of Powell Industries, Inc. (NASDAQ:POWL) shot up 3.8% during mid-day trading on Friday . The company traded as high as $136.84 and last traded at $136.35. 27,367 shares were traded during trading, a decline of 92% from the average session volume of 331,559 shares. The stock had previously closed at $131.38.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

Powell Industries Trading Up 5.2 %

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.24 and a beta of 0.79. The firm has a fifty day simple moving average of $146.86 and a 200-day simple moving average of $105.26.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.98. The company had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $182.04 million. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. Powell Industries’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts predict that Powell Industries, Inc. will post 7.54 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, February 14th were issued a dividend of $0.262 per share. This represents a $1.05 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, February 13th. Powell Industries’s payout ratio is 16.64%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at $108,168,364.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the transaction, the insider now owns 714,643 shares in the company, valued at $108,168,364.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher E. Cragg sold 9,000 shares of Powell Industries stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total value of $1,396,170.00. Following the completion of the transaction, the director now owns 12,360 shares in the company, valued at approximately $1,917,406.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock valued at $4,850,830. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds have recently made changes to their positions in the company. AJOVista LLC acquired a new position in shares of Powell Industries in the fourth quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its stake in shares of Powell Industries by 55.1% in the second quarter. Tower Research Capital LLC TRC now owns 549 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 195 shares during the period. Garner Asset Management Corp acquired a new position in shares of Powell Industries in the fourth quarter worth approximately $54,000. Point72 Asset Management L.P. acquired a new position in shares of Powell Industries in the second quarter worth approximately $39,000. Finally, Covestor Ltd lifted its stake in shares of Powell Industries by 121.1% in the third quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 436 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

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.