Powell Industries (NASDAQ:POWL) Reaches New 52-Week High at $201.20

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $201.20 and last traded at $187.19, with a volume of 107102 shares. The stock had previously closed at $194.69.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Powell Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st.

Powell Industries Stock Performance

The stock has a market cap of $2.21 billion, a PE ratio of 21.94, a P/E/G ratio of 1.49 and a beta of 0.79. The business has a 50 day moving average price of $148.41 and a two-hundred day moving average price of $122.01.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share 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 quarter in the previous year, the firm earned $0.70 earnings per share. The business's revenue was up 48.8% on a year-over-year basis. As a group, research analysts anticipate that Powell Industries, Inc. will post 9.04 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th will be given a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.06 annualized dividend and a yield of 0.57%. This is a positive change from Powell Industries's previous quarterly dividend of $0.26. Powell Industries's dividend payout ratio is presently 12.59%.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the transaction, the insider now directly owns 1,688,628 shares of the company's stock, valued at approximately $294,462,950.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $167.46, for a total transaction of $1,674,600.00. Following the completion of the transaction, the insider now owns 1,703,628 shares in the company, valued at $285,289,544.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the transaction, the insider now directly owns 1,688,628 shares of the company's stock, valued at $294,462,950.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $3,375,450. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently made changes to their positions in the stock. Panagora Asset Management Inc. lifted its holdings in Powell Industries by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company's stock worth $3,260,000 after purchasing an additional 350 shares in the last quarter. Jetstream Capital LLC purchased a new stake in shares of Powell Industries in the third quarter worth about $2,902,000. Raymond James & Associates bought a new position in shares of Powell Industries in the fourth quarter valued at approximately $1,085,000. Stratos Wealth Partners LTD. grew its stake in 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 valued at $1,525,000 after acquiring an additional 9,393 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Powell Industries by 28.1% during the 3rd quarter. Invesco Ltd. now owns 156,952 shares of the industrial products company's stock worth $13,011,000 after acquiring an additional 34,455 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.