Powell Industries (NASDAQ:POWL) Trading Up 3.5%

Shares of Powell Industries, Inc. (NASDAQ:POWL) shot up 3.5% during trading on Wednesday . The stock traded as high as $181.00 and last traded at $180.50. 33,686 shares were traded during mid-day trading, a decline of 91% from the average session volume of 357,589 shares. The stock had previously closed at $174.44.

Analyst Upgrades and Downgrades

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

Powell Industries Trading Up 2.8 %

The firm has a 50 day moving average of $156.63 and a two-hundred day moving average of $156.14. The stock has a market capitalization of $2.15 billion, a PE ratio of 21.18, a P/E/G ratio of 0.99 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The firm had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. During the same period in the previous year, the firm posted $1.52 EPS. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.59%. Powell Industries’s payout ratio is 12.59%.

Insider Buying and Selling

In other news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.42, for a total transaction of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares in the company, valued at $23,711,208.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,100 shares of company stock valued at $2,224,552. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares in the last quarter. New York State Teachers Retirement System lifted its position in Powell Industries by 1.2% during the 1st quarter. New York State Teachers Retirement System now owns 8,208 shares of the industrial products company’s stock worth $1,168,000 after acquiring an additional 100 shares during the last quarter. Diversified Trust Co boosted its stake in Powell Industries by 8.7% during the 2nd quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 129 shares during the period. Precision Wealth Strategies LLC grew its stake in shares of Powell Industries by 4.6% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 142 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Powell Industries by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,294 shares of the industrial products company’s stock valued at $759,000 after acquiring an additional 151 shares in the last quarter. 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.