Powell Industries (NASDAQ:POWL) Shares Gap Down – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $244.84, but opened at $230.05. Powell Industries shares last traded at $239.05, with a volume of 160,556 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company.

Powell Industries Stock Performance

The business’s 50-day moving average is $249.78 and its two-hundred day moving average is $229.25. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.25 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 14.80% and a return on equity of 35.68%. Analysts forecast that Powell Industries, Inc. will post 13.7 EPS for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.47%. Powell Industries’s dividend payout ratio is presently 8.62%.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Powell Industries during the fourth quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of Powell Industries in the 3rd quarter worth approximately $30,000. Quest Partners LLC acquired a new stake in shares of Powell Industries during the third quarter worth $35,000. Smartleaf Asset Management LLC lifted its stake in shares of Powell Industries by 455.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 132 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in Powell Industries in the fourth quarter valued at about $40,000. 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.