Powell Industries (NASDAQ:POWL) Shares Up 5.1% - Here's What Happened

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report)'s share price rose 5.1% during mid-day trading on Friday . The company traded as high as $211.73 and last traded at $209.50. Approximately 178,672 shares changed hands during trading, a decline of 58% from the average daily volume of 421,033 shares. The stock had previously closed at $199.37.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th.

Powell Industries Price Performance

The company has a market capitalization of $2.59 billion, a P/E ratio of 15.07, a PEG ratio of 0.96 and a beta of 0.72. The stock's fifty day simple moving average is $181.70 and its 200-day simple moving average is $199.93.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.47. The firm had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a return on equity of 35.43% and a net margin of 16.00%. During the same quarter in the prior year, the company earned $2.75 EPS. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 0.50%. The ex-dividend date was Wednesday, May 21st. Powell Industries's payout ratio is currently 7.52%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 780 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $200.00, for a total value of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 157,345 shares of the company's stock, valued at $31,469,000. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael William Metcalf sold 200 shares of Powell Industries stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $200.00, for a total value of $40,000.00. Following the sale, the executive vice president now directly owns 35,354 shares in the company, valued at $7,070,800. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Powell Industries by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company's stock valued at $20,942,000 after buying an additional 637 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Powell Industries in the fourth quarter valued at about $57,000. Price T Rowe Associates Inc. MD raised its position in Powell Industries by 108.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,378 shares of the industrial products company's stock worth $1,414,000 after purchasing an additional 3,322 shares in the last quarter. Deutsche Bank AG lifted its stake in Powell Industries by 58.6% during the fourth quarter. Deutsche Bank AG now owns 9,267 shares of the industrial products company's stock worth $2,054,000 after purchasing an additional 3,423 shares during the period. Finally, Amundi bought a new position in Powell Industries during the fourth quarter worth about $1,001,000. Institutional investors and hedge funds own 89.77% of the company's stock.

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.

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