Powell Industries (NASDAQ:POWL) Sees Strong Trading Volume

Powell Industries, Inc. (NASDAQ:POWL) shares saw unusually-strong trading volume on Tuesday . Approximately 100,914 shares traded hands during 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.

Wall Street Analyst Weigh In

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

Powell Industries Price Performance

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The stock has a 50-day moving average of $160.75 and a 200 day moving average of $133.89.

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

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th were given a $0.265 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, May 14th. Powell Industries’s dividend payout ratio (DPR) is currently 12.59%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total value of $4,117,400.00. Following the completion of the sale, the insider now directly owns 1,668,628 shares of the company’s stock, valued at approximately $343,520,446.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Powell Industries news, Director John Birchall sold 1,100 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $200.65, for a total value of $220,715.00. Following the completion of the sale, the director now directly owns 8,066 shares in the company, valued at $1,618,442.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 20,000 shares of Powell Industries stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $205.87, for a total value of $4,117,400.00. Following the transaction, the insider now owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,900 shares of company stock worth $6,080,681. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Powell Industries

Several large investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in Powell Industries by 1,377.9% in the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock valued at $11,490,000 after acquiring an additional 129,219 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Powell Industries by 169.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock worth $6,123,000 after buying an additional 46,413 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Powell Industries by 79.8% in the 3rd quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock valued at $8,444,000 after acquiring an additional 45,209 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Powell Industries by 621.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 47,187 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 40,642 shares in the last quarter. Finally, Jetstream Capital LLC acquired a new stake in shares of Powell Industries in the third quarter valued at about $2,902,000. 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.